Lack of Relevant Laws Constrains Growth in Islamic Finance Sector
Because of the amplification of Islamic banking and insurance, banking and insurance regulators expect a new legislation that allows ompanies to invest in Sharia-compliant securities.
Kenya's first Islamic insurance firm, Takaful Insurance, was initiated 3 weeks ago. The first branch was opened in Eastleigh, Nairobi. That is why an absolute change is needed.