Gulf African Bank is the first bank in Kenya to be fully compliant with Sharia -- Islamic law. The bank's products and services are based on Islamic principles, especially the ban on charging interest. The bank is gaining popularity among Muslims, said to be 10 percent of Kenya's 37 million people. Non-Muslims like it too.
Najmul Hassan, the Chief Executive Officer of Gulf African Bank said "Instead of giving you a lending, the bank would say, 'Fine, you want to buy a house, we could do a partnership with you, we will become your partner (to) buy a house'," explains Najmul Hassan, the CEO of Gulf African Bank. "You want to buy some raw materials for your factory, we would buy that and sell it to you on a deferred payment."
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