Africa

Africa

ZamZam Bank Begins Operations in Ethiopia as First Non-interest Bank

The first full-fledged interest-free bank (IFB) in Ethiopia, the ZamZam Bank, started its work on Wednesday. This makes ZamZam Bank the first bank to...

SEC Issues Cease and Desist Order on Crowdyvest Halal Fund Operations

The Securities and Exchange Commission (SEC) has announced that cooperative-driven fintech product, Crowdyvest Halal Fund, is an “unregistered entity purporting to operate as a...

Salaam African Bank (SAB) of Djibouti Acquires Uwezo Microfinance Bank of...

Salaam African Bank (SAB) of Djibouti recently acquired 100 per cent stake in Kenya-based Uwezo Microfinance Bank that was founded 12 years ago but...

Sudanese Sanabel Bank Launches First Green Sukuk for Renewable Energy

A Sudanese bank on Monday launched an investment fund offering what it said was the country’s first green sukuk — or bonds compliant with...

Islamic Banking Growth in South Africa Fueled by Increased Interest

An increasing awareness and understanding that every obligation attached to one’s wealth needs to be fulfilled in the proper manner is spurring a local...

Libya’s Stock Exchange Aims to List Two New Islamic Banks

Libya’s long dormant stock exchange will witness a number of public offerings this year, including two Islamic banks. A real estate investment fund offering is...