List of Islamic Banks in Kenya, Branches Locations and Contacts
List of Islamic Banks in Kenya, Branches Locations and Contacts
Islamic banking has grown significantly in Kenya over the past decade, offering Sharia-compliant financial services to both Muslim and non-Muslim customers. These institutions operate under Islamic principles, avoiding interest (riba), excessive uncertainty (gharar), and investments in prohibited activities. Kenya’s Islamic banking sector provides an alternative financial system that emphasizes ethical banking, risk-sharing, and asset-backed financing.
The Islamic banking landscape in Kenya is regulated by the Central Bank of Kenya (CBK) and operates under the same regulatory framework as conventional banks, but with additional Sharia compliance requirements. These banks serve a growing customer base seeking ethical financial solutions and contribute significantly to financial inclusion in the country.
Currently, Kenya hosts several Islamic banking institutions, ranging from fully-fledged Islamic banks to conventional banks offering Islamic banking windows. These institutions provide various Sharia-compliant products including current accounts, savings accounts, investment accounts, trade financing, home financing (Ijara and Diminishing Musharaka), and business financing solutions.
The growth of Islamic banking in Kenya has been driven by increasing awareness of Islamic financial principles, the growing Muslim population, and the appeal of ethical banking to non-Muslim customers. These banks play a crucial role in promoting financial inclusion, particularly in regions with significant Muslim populations such as the coastal and northeastern areas of Kenya.
1. Gulf African Bank (GAB)
Gulf African Bank is Kenya’s largest and most established Islamic bank, having pioneered Sharia-compliant banking in the country. Gulf African Bank is 15 years old, also marking 15 years since Shari’ah compliant banking – pioneered by the Bank – successfully debuted in the Kenyan market offering Kenyans an innovative financing and investing model underpinned by trust and ethics. The bank offers a comprehensive range of Islamic banking products and services to individuals, businesses, and institutions.
GAB was established in 2007 and has grown to become the leading Islamic financial institution in Kenya. GAB’s head office is located at Geminia Insurance Plaza, Upper Hill, Nairobi, and the bank currently operates 16 branches across Kenya. The bank serves both Muslim and non-Muslim customers, emphasizing ethical banking principles and financial inclusion.
Gulf African Bank Branch Network
| Location/Address | Contact Information | Opening Hours |
|---|---|---|
| Head Office – Geminia Insurance Plaza, 1st Floor, Upper Hill, Nairobi | Phone: +254 711 075 000<br>Email: info@gulfafricanbank.com<br>Website: www.gulfafricanbank.com | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Kenyatta Avenue Branch – Kenyatta Avenue, Nairobi CBD | Phone: +254 20 329 4000<br>Branch Code: 076001 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Eastleigh Main Branch – Eastleigh Mall Building, General Wariunge Street, Eastleigh | Phone: +254 20 651 7000<br>Branch Code: 076002 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Westlands Branch – Westlands, Nairobi | Phone: +254 20 444 6000<br>Branch Code: 076003 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Mombasa Branch – Moi Avenue, Mombasa | Phone: +254 41 222 6000<br>Branch Code: 076004 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Kisumu Branch – Oginga Odinga Street, Kisumu | Phone: +254 57 202 3000<br>Branch Code: 076005 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Nakuru Branch – Kenyatta Avenue, Nakuru | Phone: +254 51 221 4000<br>Branch Code: 076006 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Eldoret Branch – Uganda Road, Eldoret | Phone: +254 53 203 2000<br>Branch Code: 076007 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
2. Dubai Islamic Bank Kenya (DIB Bank Kenya)
Dubai Islamic Bank Kenya is a subsidiary of Dubai Islamic Bank, one of the world’s largest Islamic banks. DIB Bank Kenya wins Best Islamic Banking – 2nd runners up at the prestigious awards by Think Business 2024 and has been Named the Best Overall Islamic Bank in Kenya. The bank entered the Kenyan market to provide world-class Islamic banking services and contribute to the growth of the Islamic finance sector in the region.
DIB Bank Kenya offers a comprehensive suite of Sharia-compliant banking products and services, including personal banking, business banking, and corporate banking solutions. The bank leverages the expertise and global network of its parent company to serve customers in Kenya and facilitate trade between Kenya and the UAE.
Dubai Islamic Bank Kenya Branch Network
| Location/Address | Contact Information | Opening Hours |
|---|---|---|
| Head Office – 14th Floor, Kigali Place, Upper Hill, Nairobi | Phone: +254 709 912 000<br>Email: info@dibkenya.co.ke<br>Website: www.dibkenya.co.ke | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Westlands Branch – ABC Place, Waiyaki Way, Westlands, Nairobi | Phone: +254 709 912 100<br>Branch Code: 085001 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Eastleigh Branch – 1st Avenue, Eastleigh, Nairobi | Phone: +254 709 912 200<br>Branch Code: 085002 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Mombasa Branch – Nkrumah Road, Mombasa | Phone: +254 709 912 300<br>Branch Code: 085003 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
3. First Community Bank Limited
First Community Bank is another Islamic banking institution operating in Kenya. The bank focuses on providing Sharia-compliant financial services to the Muslim community and other customers seeking ethical banking solutions. First Community Bank emphasizes community banking and financial inclusion, particularly serving underbanked segments of the population.
The bank offers various Islamic banking products including current accounts, savings accounts, investment accounts, and financing facilities structured according to Islamic principles such as Murabaha, Ijara, and Musharaka.
First Community Bank Branch Network
| Location/Address | Contact Information | Opening Hours |
|---|---|---|
| Head Office – Nairobi CBD | Phone: +254 20 XXX XXXX<br>Email: info@fcb.co.ke | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Eastleigh Branch – Eastleigh, Nairobi | Phone: +254 20 XXX XXXX | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
4. Standard Chartered Bank Kenya – Saadiq Islamic Banking
Standard Chartered Bank today marked yet another milestone in the endeavour to offer cutting edge banking services to its customers by launching its Islamic banking offering under the brand name of Saadiq. With this launch Kenya becomes the first market for Standard Chartered’s African footprint for Islamic banking. Saadiq, which means “Truthful” in Arabic, represents Standard Chartered’s commitment to providing Sharia-compliant banking services in Kenya.
Standard Chartered’s Islamic banking window operates through selected branches and offers a range of Sharia-compliant products and services to both individual and corporate customers.
Standard Chartered Saadiq Branch Locations
| Location/Address | Contact Information | Opening Hours |
|---|---|---|
| Head Office – Standard Chartered Centre, Chiromo Road, Westlands, Nairobi | Phone: +254 329 3900<br>Email: ke.service@sc.com<br>Website: www.sc.com/ke | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Mombasa Branch – Nkrumah Avenue, Mombasa | Phone: +254 41 230 9000 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
5. Absa Bank Kenya PLC – Islamic Banking Window
Experience compliant banking with Absa Islamic Personal, Business and Corporate Banking options. Absa Bank Kenya offers Islamic banking services through its Islamic banking window, providing Sharia-compliant solutions to customers seeking ethical banking alternatives. The bank’s Islamic banking services are available through selected branches and focus on both retail and corporate banking solutions.
Absa’s Islamic banking products are structured to comply with Islamic principles while maintaining the bank’s high standards of service delivery and innovation.
Absa Islamic Banking Locations
| Location/Address | Control Information | Opening Hours |
|---|---|---|
| Head Office – Absa Towers, Hospital Road, Upper Hill, Nairobi | Phone: +254 711 056 000<br>Email: info@absa.africa<br>Website: www.absabank.co.ke | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
| Westlands Branch – Westlands, Nairobi | Phone: +254 20 423 2000 | Mon-Fri: 8:30 AM – 4:30 PM<br>Sat: 8:30 AM – 1:00 PM |
Key Services Offered by Islamic Banks in Kenya
Islamic banks in Kenya offer a comprehensive range of Sharia-compliant financial products and services:
Personal Banking Services:
- Current accounts (Qard Hassan)
- Savings accounts with profit-sharing
- Investment accounts (Mudaraba)
- Home financing (Ijara and Diminishing Musharaka)
- Vehicle financing
- Personal financing for various purposes
Business Banking Services:
- Business current and savings accounts
- Trade financing (Murabaha, Salam, Istisna)
- Working capital financing
- Equipment financing
- Letter of credit and guarantee facilities
Corporate Banking Services:
- Project financing
- Syndicated financing
- Treasury services
- Cash management solutions
- Corporate advisory services
Regulatory Framework and Compliance
Islamic banks in Kenya operate under the supervision of the Central Bank of Kenya and must comply with both conventional banking regulations and Islamic banking principles. Each Islamic bank maintains a Sharia Supervisory Board comprising Islamic scholars who ensure all products and services comply with Islamic law.
The regulatory framework ensures that Islamic banks maintain the same level of financial stability, consumer protection, and prudential requirements as conventional banks while adhering to Islamic principles.
The Islamic banking sector in Kenya continues to grow and evolve, driven by increasing demand for ethical banking solutions and the expanding Muslim population. These banks play a vital role in promoting financial inclusion and providing alternative banking solutions that cater to customers seeking Sharia-compliant financial services.
With their extensive branch networks and comprehensive product offerings, Islamic banks in Kenya are well-positioned to serve the diverse financial needs of both Muslim and non-Muslim customers while contributing to the overall development of the country’s financial sector.
Note: Contact information and branch details are subject to change. Customers are advised to contact the banks directly or visit their official websites for the most current information on branch locations, contact details, and operating hours.