AN Islamic bank has introduced new mobile banking services to counter the growing competition from the conventional banks. The Gulf African Bank yesterday in Mombasa launched the service dubbed "GAB Pesa" which will allow its customers to access the banking services from their mobile phones.
Speaking to the press during the launch of the service, the bank's chief executive officer Abdalla Abdulkhalik said they have become a first Shariah compliant bank to offer the service.
"The Central Bank of Kenya gave out a directive that banks should grow with technology and we are humbled to become the first from the Islamic banking," he said.
The bank has partnered with Safaricom to offer the services and is currently talking to another mobile service provider, Airtel, to have the services incorporated.