Today in the afternoon, reports have emerged that the president of this country Dr William Samoe Ruto has issued a new financial directive while on his visit to Nairobi Stock Exchange (NSE).
As reported by the Star, the head of state has directed all financial regulators in the republic of Kenya to work with the Treasury and Islamic finance stakeholders to develop a regulatory framework that can support the growth of Islamic finance in the country. Ruto on his directive said that Islamic finance has the potential to unlock investment resources and boost economic growth.
Islamic finance refers to financial system that works in accordance with Islamic law. This system is majorly found in Islamic countries expecially in the middle east and it has been proven to be one of the best financial systems in the world. President Ruto was speaking during the listing of Linzi finCo Trust at Nairobi Stock Exchange market. Linzi finCo Trust works in accordance with Shariah Law.
By Star