DIB Bank Kenya (DIBBKE), a subsidiary of Dubai Islamic Bank (DIB), has opened a new branch at the busy Sarit Centre. DIB has pioneered the combination of traditional Shariah values with modern technology and innovative products to offer relevant financial services mostly tailored to the Islamic community.
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The lender labelled the move to relocate the Goodman Towers branch, along Waiyaki Way, to Sarit Centre as a strategic move in providing information to customers seeking trade financing between Kenya and the United Arab Emirates (UAE), given that the parent firm is based in Dubai. DIBBKE also brands itself as being strategically positioned to facilitate trade deals between Nairobi and Dubai.
The firm also highlighted that its presence in the high-traffic location will enable it to offer convenience to clients as it seeks to increase lending to both small and medium-sized enterprises, as well as offer improved service to both existing and potential clients.
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DIBBKE was established in 2014 as a fully owned subsidiary of DIB. Shariah banking is gaining fast popularity among Kenyans, especially the Islamic community, with some other fully Shariah-compliant banks like Premier Bank and Gulf African Bank. Other banking institutions have also been keen to develop Shariah-compliant products to cover the developing market gap. Some of these products include Halal Pesa by Safaricom, Yasar Mudarabah by Stima Sacco, and National Amanah by National Bank.
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