Absa Bank Kenya PLC has unveiled La Riba Timiza, the country’s first fully mobile Shariah-compliant banking platform by a Tier one bank, alongside the new La Riba Card—both designed to deepen financial inclusion and serve Kenya’s diverse consumer base.

According to the lender, La Riba Timiza offers seamless mobile access to Islamic-compliant savings, payments, and instant financing through the Timiza app or USSD (*848#), while the La Riba Card provides flexible payment solutions, cashback rewards, and exclusive Visa perks. 

Absa CEO Abdi Mohamed noted that this initiative is part of the bank's commitment to expanding access to finance for underserved communities.

“We take great pride in being the first Bank in Kenya to pioneer Islamic banking 20 years ago, and now we are also the first Tier 1 Bank to launch a fully Shariah-compliant mobile banking service platform,” said Mr. Mohamed.

“Our additional offerings under La Riba banking, which are rooted in Islamic values, provide a range of ethical, inclusive, and accessible financial solutions tailored to meet the needs of our Islamic customers. Our goal is to promote greater financial inclusion. At the heart of this is the belief that every story matters, and we are dedicated to supporting our customers’ growth journeys and co-creating solutions that align with their beliefs and values,” he added.

The La Riba Timiza and La Riba Card are based on Murabaha, an Islamic principle that strictly forbids transactions involving interest, and have been developed in close consultation with Absa Bank’s independent Shariah Board to ensure they adhere to Islamic finance standards and meet the financial needs of the Muslim community.

La Riba banking is designed not only to serve Muslim customers but also to accommodate conscientious non-Muslim customers who follow Shariah guiding principles and values.

Over the past decade, Islamic banking in Kenya has expanded considerably and has been recognised by regulators and analysts as a crucial tool in closing the financial inclusion gap.

Demonstrating leadership in the financial sector, Absa’s La Riba Timiza and La Riba Card come at a time when many financial institutions are embedding ethical banking and financial inclusion into their core business strategies. 

Furthermore, with over 80 per cent of the country’s population being digitally proficient, these solutions represent a positive step towards empowerment through digital innovations. 

Last year, Absa Bank Kenya opened its first flagship La Riba Centre at BBS Mall, Eastleigh. The Bank also launched Kenya’s first Shariah-compliant structured investment notes, tailored for premier clients, as well as Tawarruq, an unsecured personal lending solution.

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