Tagged: Amana Bank

Islamic banking assets to reach $ 1.5 billion

Islamic banking assets to reach $ 1.5 billion

According to the CEO of Amana Bank, Faizal Salieh, it is expected for the current $ 250 million of banking assets to rise to $ 1.5 billion in the coming years. About 8% of the country’s population of 21.5 million people are Muslims. The strong demand f…

Islamic finance continues to evolve in East Africa

Islamic finance continues to evolve in East Africa

The latest development in Tanzania and East Africa’s emerging Islamic finance industry is the opening of Tanzania’s first Islamic bank, Amana Bank, last month. The headquarters of the bank are in the Kariakoo trade centre in the city, the hub of co…

Tanzania’s first Islamic bank takes off

Tanzania’s first Islamic bank takes off

Tanzania launched its first Islamic bank, Amana Bank, in the capital, Dar es Salaam. Amana Bank’s chairman, Haroon Pirmohamed, stated that the bank was launched to service the request for an ethical and interest-free alternative to conventional banki…