These developments have enabled the formerly unbanked Kenyans and specifically the muslim community in the marginal areas have access to financial services adding to the wealth creation in the economy. This is a solid testimony of the vast potential of Islamic finance in Kenya, which should be tapped, and opportunities explored in the insurance (takaful) and capital market segments using sharia compliant vehicles.
On the regional front, there is a move by the countries in the region to permit their institutions to offer Islamic products. Central Bank of Kenya is therefore sharing its experience in Shariah-compliant banking with other Central Banks in the East African Community.