Kenya: Sharia Compliant Sacco Launched

18 December 2013

ISLAMIC finance in Kenya is set to grow further with the launch of the sharia compliant Crescent Takaful savings and credit cooperative society yesterday.

Sharia compliant financing prohibits making huge profits through charging of interest on loans. It also prevents beneficiaries of loans from the Islamic finance institutions from spending that money on goods or services that are considered wrong under Islam.

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