On the other hand the core principle of Islamic finance is the prohibition of “Rhiba” meaning the prohibition of interest rates. Banks usually combine in their balance sheets short-term liabilities with long-term assets, resulting in maturity mismatches. Banks try to minimize the potential risks resulting from these mismatches by actively managing their liquidity needs typically through interbank money markets.
In just the years between the 2016 Survey and this one, the uptake of loans through digital apps grew from 0.6 percent to 8.3 percent. What will come as no surprise to any Kenyan in this room is the place of friends and family.