Absa Bank pitches shariah play in Kenya

Absa Bank has expanded its offerings of Shariah-compliant structured certificates to Kenya. The two structured products were unveiled during a branch opening in eastern Nairobi, in a first for Kenya’s Islamic banking market. The USD-denominated tranche offers an upside participation of 200% with the return capped at 30% and is observed averaged monthly over the final seven months The east African country is one of Absa Group’s top five target markets, which also include Botswana,