Sharp Daily
No Result
View All Result
Wednesday, October 29, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

SIB introduces MansaX Shariah for ethical global market investments

The fund prioritizes assets compliant with Islamic principles, catering to Shariah-leaning investors

Patricia Mutua by Patricia Mutua
November 29, 2023
in News
Reading Time: 1 min read

Standard Investment Bank (SIB) has launched SIB Najah, a Shariah-compliant investment banking division, and its flagship product, MansaX Shariah.

Regulated and domiciled in Kenya, this fund provides investors a platform for ethical global market investments. It prioritizes assets compliant with Islamic principles, avoiding investments in interest-based activities and industries such as alcohol, pork, entertainment, and tobacco.

“SIB Najah is the investment division of SIB that provides Shariah-compliant investment banking solutions in the region,” stated Abdullahi Omar Adan, executive director of SIB’s Islamic Investment Banking division.

Further adding “We have several offerings; our flagship product the wealth management fund known as Mansa X open to anyone with a minimum joining balance of KES 100,000 or USD 1000.”

RELATEDPOSTS

Kenya’s rising tide: The growth of Islamic finance and Sharia-compliant solutions

November 21, 2024

This move aligns with the Capital Markets Authority’s (CMA) drive for market inclusivity, urging the participation of Shariah-leaning investors. Ugas Sheikh Mohamed, CMA Chairman, emphasized during the launch that the inclusion of Shariah-compliant products is not a religious matter but a market imperative, addressing the constitutional right to inclusivity.

Mohamed highlighted the lack of participation from the Muslim community in social funds and government affirmative action programs, stressing the need for financial literacy on Shariah-compliant products.

Abdullahi Omar Adan, SIB’s Executive Director for Islamic Investment Banking, outlined the division’s focus on equities, fixed income, corporate finance, and wealth management, providing guidance to investors on Shariah-compliant stocks.

The initiative responds to the demand for ethical investments within the Islamic community, overcoming challenges like a lack of awareness and skilled professionals in Islamic finance.

Shariah banking has gained momentum in Kenya, primarily due to the fast-growing Muslim community. Some fully-fledged Shariah-compliant banks in Kenya include Dubai Bank of Kenya, First Community Bank of Kenya, Gulf African Bank of Kenya, and the Middle East Bank of Kenya.

Previous Post

Kenya Airways to resume direct flights to Somali in 2024

Next Post

Azimio endorses dialogue report but unhappy with living cost outcomes

Patricia Mutua

Patricia Mutua

Related Posts

News

Eastern Africa’s unified spectrum strategy to boost broadband

October 27, 2025
News

Start Q4 strong with the Cytonn Money Market Fund

October 9, 2025
News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025

LATEST STORIES

EABL to redeem KES 11.0 bn bond early to cut financing costs

October 28, 2025

How Money Market Funds Work: A Beginner’s Guide (Kenya Edition)

October 28, 2025

From paycheck to progress: how I learned to make every salary count.

October 28, 2025

Kenya tightens mobile phone import rules with mandatory IMEI registration

October 28, 2025

How regular investing builds lasting wealth

October 28, 2025

The Importance of Investing in the Cytonn Money Market Fund

October 28, 2025

How the Cytonn Money Market Fund can help farmers grow their income safely

October 27, 2025

Why the cytonn money market fund remains a reliable choice for low-risk investors

October 28, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024