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.