Tagged: Absa

Absa: Africa target for Islamic insurance

Absa: Africa target for Islamic insurance

Barclays and Absa maintain their interest in Africa as a target for Islamic insurance. There are plans to introduce the Takaful offering to the African continent. With a Muslim population of over 500 million, Africa represents a very good market perspe…

Absa to take Tafakul to Africa

Absa to take Tafakul to Africa

Barclays and Absa keep their focus on Africa and plan to accept the group’s Islamic Insurance offering – Takaful. Due to the huge number of Muslim population in the continent – over 500 million people – there are excellent market opportunities for Is…

Islamic Finance in Africa to take off in 2012

Islamic Finance in Africa to take off in 2012

Islamic finance banking options are progressively being seen as a viable alternative to traditional banking services in Africa and are growing to found not only the African Islamic community but all those searching for an interest-free banking alternat…

Takaful market set to grow in S. Africa and beyond

Takaful market set to grow in S. Africa and beyond

Through the acquisition of the local Islamic insurance company, Takafol SA, by Absa, it is once more underlined that the mainstream banks in South Africa are taking Islamic finance as a serious niche market business.
The Takaful premium market in South…

Absa launches Islamic Banking in Tanzania

Absa launches Islamic Banking in Tanzania

The National Bank of Commerce (NBC), a subsidiary of Absa, has placed itself ahead of competitors in the Banking Industry by launching Islamic Banking to the public. This move is in line with Absa’s strategy of expanding its offering in Africa.

NBC’s Managing Director Mr Christo De Vries said this new service is part of NBC’s business banking strategy, to provide innovative products to meet the needs of the market. The introduction of Islamic Banking in the Tanzanian market is aimed at ensuring that we offer products that appeal to all Tanzanians regardless of their faith or background.