Tanzania: Bank to Offer Loans Under Islamic Law

Stanbic Bank Tanzania Limited has plans to launch mortgage loans, vehicle loans and home loans through its Shariah Banking product sometime this year.
Mr Mohammed Issa, the bank's board supervisor Shariah banking, told at a seminar that the economy was picking up as result of a wider reach of banking solutions being provided by banks and financial institutions.
Stanbic bank Shariah banking products include transactional accounts, savings accounts and deposit products based on the Al-Qard mode of the Islamic faith.

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