Happy Eid Al-Fitr to our Muslim brothers and sisters

25th Jun, 2017

Islam is one of the fastest growing religions in the world. In the context of Religion, Islam means “the surrendering of one’s will (without compulsion) to the true will of God in an effort to achieve peace”.

Studies have revealed that there are over 1.8 billion people in the world who identify their religion as Islam. But, more often than not, our Muslim brothers and sisters are misconstrued and yet we barely know the insides and outs of their religion.  Please, allow me.

Eid Mubarak is written in Arabic which means “blessed Eid” or ‘“blessed celebration”. Muslims from all over the world celebrate this day to mark the end of the fasting period by starting off their morning at the mosque for the Eid Ul- Adha Prayer, before the official celebrations with family and friends begins. It is also important for Muslims to show thanksgiving on this day by donating food and other basic necessities to the less fortunate.

It is crystal clear that Eid Mubarak is not just a day off work; it has a purpose to promote peace globally, bring families together, as well as uplifting the communities through donations. How amazing is that?

Now that we understand Islam a little better, it is essential to provide products and services that cater for Muslims (and non-Muslims) as well as honour their religious beliefs. The concept of Islamic banking is based on the Sharia’s principles – derived from the Quran – which is in contrast to the conventional way of banking due to its nature.

It is essential that before a bank introduces Islamic banking, it must be approved by the Sharia’s advisory board.  According to Islamic faith, the Sharia’s compliant product prohibits the giving or receiving of interest. Islamic banking policies guarantees its customers that the money is invested ethically conforming to the Islam religion.

In 2016, we, at KCB Group, launched an Islamic Banking Unit designed to address the sensitivities of this group of customers. KCB Sahl Banking (easy banking) seeks to tap into the increasing demand for Islamic financial products across the East African region.  To find out more about the KCB Sahl Banking, click here.


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