Najma Bishar, our executive director, met yesterday with Elimu Sacco’s senior management to discuss the modalities of establishing Islamic financial products and services.
Islamic finance continues to gain prominence within the Sacco sector, attracting more major players to this lucrative market serving a population of six million.
This growing interest from both Saccos and their members underscores the existing need for amendments to relevant regulations governing Islamic Saccos.
Unfortunately, the 2018 white papers on Islamic Banking, Saccos, pensions, insurance, and capital markets were never operationalized.