posted by Christopher W. Holton
Shariah finance is a weapon of Islamic imperialism, as evidenced by the fact that Kenya has been targeted for some time to embrace Shariah finance.
Unfortunately, those efforts have been successful.
Keep in mind that Kenya is less than 12% Muslim, so there is very little inherent demand for Shariah-compliant financial products in Kenya…
The Capital Markets Authority (CMA) has lauded government efforts to deepen Islamic Finance in Kenya, following the Presidential assent of the Finance Act 2017, confirming Kenya’s commitment to positioning itself as a regional Islamic Finance hub.
The Finance Act 2017 contains a raft of targeted measures designed to support the growth of Islamic Finance in Kenya.