Kenya’s Islamic Finance Drive To Tackle Taxes

nairobi kenya

KENYA’S plans to develop Islamic finance include a wideranging taxation review and the establishment of a national sharia board, steps which could set it ahead of other African countries aiming to develop the sector.

The country wants to build up the industry as part of a longterm plan to turn Nairobi into an international financial centre and as a way to help finance infrastructure projects by building commercial links across Africa and the Middle East.

Kenya’s decade-old Islamic finance sector includes two fullfledged Islamic banks and several Islamic windows, but until now they have operated by way of exemptions, and a lack of clear rules have stunted growth.



Subscribe To Our Magazine

"Muslim Ink is attractively designed with very informative articles... It is an entertaining and pleasant read which I would recommend all."

Dr. Bilal Philips
Founder & Chancellor of IOU

Leave a Comment

Your email address will not be published. Required fields are marked *