Absa Bank Kenya has rolled out a groundbreaking financial solution aimed at supporting women entrepreneurs in Kenya, the La Riba Sultanah account, a first-of-its-kind Shariah-compliant product designed to promote financial independence and ethical business growth for women.

This innovative offering is part of Absa’s broader strategy to deepen financial inclusion and address the diverse needs of its customers through its sustainability agenda.

Speaking during the launch, Absa Bank Kenya’s Chief Finance Officer Yusuf Omari highlighted the importance of this new solution, particularly in addressing long-standing challenges that women face in the financial space.

“La Riba Sultanah is designed to empower women without compromising their values. It reflects our continued efforts to support all segments of the economy by providing inclusive, ethical, and innovative financial solutions that enable our customers to thrive,” he said.

He further explained the bank’s intention to close the gap for women who have often been excluded from active financial participation due to a lack of appropriate financial tools.

“We are making deliberate efforts towards serving women who have historically been excluded from the financial ecosystem and active economic participation due to a lack of tailored financial solutions. Through Sultanah, we are bridging this gap by providing them with the right tools for financial management, savings, and investment that align with their faith, values, and ambitions,” he said.

The new account is tailored to allow women to manage their finances more effectively, grow their savings, and access financial products and services that align with their religious values.

With La Riba Sultanah, customers can benefit from a range of Shariah-compliant personal and business financing options.

They will also have opportunities to access mentorship and networking platforms through Absa’s business clubs and partner-organised conferences, creating a supportive environment for business growth and development.

In addition to the core account benefits, customers will also have access to a Shariah-compliant credit card with an enhanced value package.

This includes cashback offers, discounts, complimentary health check-ups, wellness packages at partner clinics, and access to education and career development programmes.

The unveiling of La Riba Sultanah took place during the 2025 Absa Annual Islamic Conference in Nairobi, a two-day event that brought together religious scholars, financial experts, and policymakers.

The forum focused on discussions around Islamic finance laws and frameworks and included the launch of the Association of Shariah Compliant Services Providers of Kenya.

This new association is expected to drive advocacy and public education around Islamic finance, promote the development of evidence-based research to support policy change, and create a stronger, more responsive financial system rooted in Shariah principles.

Absa has been a pioneer in Islamic banking in Kenya, having introduced such services nearly 20 years ago.

The bank’s growing La Riba product line is built on Murabaha, a financial model that avoids interest-based transactions.

These products are approved by Absa’s independent Shariah Board, ensuring they are fully compliant with Islamic banking principles.

While these offerings primarily serve the Muslim community, Absa has emphasized that they are open to all customers who value ethical and interest-free financial services.

The bank’s commitment to innovation in Islamic finance was also visible in its recent rollout of La Riba Timiza, Kenya’s first fully mobile Shariah-compliant banking platform and the Absa La Riba Card, further expanding options for customers who seek alternative and values-based financial solutions.