Gulf African Bank has launched a new branch in Eldoret to tap into the demand for Shariah compliant banking in the North Rift region, with plans to launch in Nakuru soon.
The branch – situated along Kago Street, off Uganda Road – was inaugurated by Uasin Gishu County Governor Jackson Mandago.
The branch is designed to offer customers a taste of the post-modern retail banking experience and will provide a range of financial services – transactional, business and customer support – under one roof. Through the branch, the bank will offer Shari’ah structured tailor-made financial and advisory solutions to SMEs while providing competitive foreign exchange rates, innovative corporate banking solutions and affordable personal financing solutions.
Gulf African Bank has strategically positioned itself to play a major role in the growth of the county’s economy mainly through supporting growth of private businesses in need of Shari’ah compliant financing and the county government in the implementation of its projects.
“The reception of Islamic banking in Kenya has been very encouraging and those who have embraced it have reaped handsomely,” said Managing Director Abdalla Abdulkhalik.
SMEs partnering with Gulf African Bank will gain access to various value-added services including bundled charges for those in need of a pool of services, free SME advisory, access to new markets through strategic trade partners and negotiable financing rates. “The county government will also realize great savings by using Gulf African Bank, a Shari’ah compliant lender, as a financial intermediary to fund its infrastructure development,” said Abdulkhalik, adding that the bank will be opening an additional branch in the South Rift town of Nakuru in the next one month.
Gulf African Bank is the premier fully Shari’ah compliant bank in Kenya, offering products that address the needs of not just Muslims, but other conventional customers looking for fair, safe and ethical banking practices.
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