Absa Bank Kenya PLC has unveiled La Riba Timiza, the country’s first fully Shariah-compliant mobile banking platform by a Tier 1 bank, alongside the new Absa La Riba Card.
The new offerings mark a major step in Absa’s efforts to deepen financial inclusion and serve diverse consumer needs through ethical and accessible banking.
Accessible via the Timiza app or *848#, La Riba Timiza offers mobile payments, goal-based savings, and instant short-term financing aligned with Islamic finance principles. Meanwhile, the La Riba Card enables Shariah-compliant everyday transactions with benefits such as cashback rewards, flexible repayment, and access to airport lounges.
“Being the first bank to pioneer Islamic banking 20 years ago, we are proud to lead again with Kenya’s first fully mobile, Shariah-compliant banking solution,” said Absa Kenya MD & CEO, Abdi Mohamed.
Both products are based on Murabaha—a profit-based, interest-free Islamic finance model—and have been vetted by Absa’s independent Shariah Board.
The launch builds on Absa’s expanding Islamic finance footprint, following the recent opening of its La Riba Centre in Eastleigh and the roll-out of Shariah-compliant investment and lending solutions.
With over 80 percent of Kenyans now digitally proficient, Absa says these innovations represent a timely boost for ethical, inclusive finance.