Absa Bank Kenya has launched La Riba Timiza, becoming the first Tier 1 bank in the country to introduce a fully mobile Shariah-compliant banking platform, as part of its continued push to offer inclusive and ethical financial services.

The new mobile banking service is accompanied by the La Riba Card, an interest-free digital payment solution developed in line with Islamic finance principles. Together, the two offerings are designed to improve financial access for customers who prefer values-based banking solutions.

Speaking during the launch on Thursday, Absa Kenya Managing Director and CEO Abdi Mohamed said the move builds on the bank’s two-decade journey in Islamic banking.
“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,” he said.

Mohamed noted that the new products are tailored to meet the needs of the bank’s Islamic customers, with a focus on ethical and inclusive access to finance.“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.

La Riba Timiza allows users to apply for instant short-term financing, make digital payments, and save for specific goals. All transactions comply with Islamic banking principles that prohibit interest.

Customers can access the service through the Timiza mobile app or by dialling *848# and selecting the La Riba option.

The La Riba Card serves as a day-to-day digital payment tool and is available to both individuals and businesses.

Cardholders benefit from unsecured financing with flexible repayment options, cashback rewards on purchases, exclusive discounts, and access to international airport lounges.

Both products are built on the Murabaha model, which follows a cost-plus-profit approach instead of charging interest.

Absa says the offerings were developed with guidance from its independent Shariah Board to ensure full compliance with Islamic financial rules.

While the products are designed with Muslim customers in mind, they are also available to non-Muslims who prefer banking services aligned with ethical and interest-free principles.

Absa says the rollout supports its wider strategy to deepen financial inclusion by providing convenient and responsible services to customers often excluded from conventional banking.

It also reinforces the bank’s leadership in Islamic banking, a sector that has expanded rapidly in Kenya over the past decade.

Last year, the bank launched its flagship La Riba Centre at BBS Mall in Eastleigh and introduced the country’s first Shariah-compliant structured investment notes for high-net-worth clients. It also launched Tawarruq, a Shariah-based unsecured personal financing product.

With over 80 percent of Kenyans digitally active, Absa believes such innovations will continue to expand the reach of ethical finance in the local market.