Dubai Islamic Bank Kenya embraces internet banking
Dubai Islamic Bank Kenya is set to launch a new corporate internet banking platform designed to offer enhanced security, efficiency, and user experience.
This move aligns with the Dubai Islamic Bank subsidiary’s growth strategy aimed at meeting the growing demand for Shariah-compliant banking services.
Mary Kanuku, head of treasury at DIB Bank Kenya representing notes that the upcoming digital revolution has the potential to bolster the uptake of Shariah banking services in Kenya.
“Our investment in enhancing the digital infrastructure underscores our commitment to providing innovative banking solutions that drive growth for the Bank. By embracing the digital revolution, we aim to set new standards in the Digital Banking space while contributing to the broader economic development of Kenya,” said Kanuku.
Established in May 2017, DIB Kenya has championed a sustainable and ethical financing model adhering to Islamic law.
The digital banking sector in Kenya is poised for substantial growth, with forecasts from Statica’s Digital Banking 2024 report projecting net interest income to reach Kes32.9 billion ($255.6) million by the end of 2024. Experts anticipate further growth, with market volume expected to reach Kes42.6 billion ($330.10 million) by the end of 2029.
This surge reflects Kenya’s increasing adoption of digital banking services, revolutionizing how individuals access and manage their finances in the country.
