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  Islamic Banking weathers global financial crisis - By Zeehan Shamji
 
Despite the financial crisis, fundamentals of the Islamic finance industry remained strong. With ...
   
  Gulf African Bank joins profit-makers' curve
 
Gulf African Bank has posted a profit for the first time since it opened its doors to business ...
   
  Attitude training should come first as firms build skills
 
Attitude training should come first as firms build skills
   
  We have done it….Again!
 
We are pleased to announce that we won awards during the Banking Awards 2010 gala dinner held ...
   
  A Case of Social Responsibility
 
Our CEO on a Islamic Banking...
   
  Gulf African Bank Intensifies Focus on SME Financing
 
The battle is on for SME Financing...
   
  What is it like to work for Gulf African Bank...
 
Sam Kiraka, A Corporate Relationship Manager on the Daily Nation...
   
  The Annisaa Ladies Empowerment Event
 
We hosted our Annisaa Savings Account holders to a one day empowerment workshop that saw ...
   
  We have launched our SME Financing facility
 
We recently launched a Small and Medium Enterprise (SME) credit facility aimed at promoting the ...
   
  The Regulation of Islamic Financial Institutions
 
The Regulation of Islamic Financial Institutions: A Case for the
Vetting of Shari'ah ...
   
  "VALUE CAPPING" ON CHEQUE CLEARING AND ELECTRONIC FUNDS TRANSFERS
 
As you may be aware, on 24th June 2009, the Kenya Bankers Association (KBA) and the Central Bank ...
   
  Central Bank lines up electronic system to replace cheques
 
Businesses stand to gain from faster settlement of non cash payment within commercial banks as ...
   
  Our 2nd Phase of Branch Expansion Plans begins
 
We have launched into the second phase of our expansion plans by opening our 12th branch in ...
   
  Islamic Finance News
 
22 May, 2009; Islamic finance's main promotional pitch is that it wasn't sucked in by the ...
   
  What Kenya must do to promote Islamic banking
 
19 May, 2009; The concept of Islamic banking — a financial, banking and lending system in ...
   
  Gulf African Bank Nominated Second Best Bank in Customer Satisfaction!!!
 
7 May, 2009; Gulf African Bank has been nominated as Second in Best Bank in Customer ...
   
  Gulf African Bank hosts the First Islamic Finance Conference in Kenya
 
05 May, 2009; Gulf African Bank in partnership with Quantum Training hosted the first East and ...
   
  Gulf African Bank Launches a Children's Account
 
18 Apr, 2009; Gulf African Bank has launched a children's account dubbed, Smart Account Savers ...
   
  Gulf African Bank invests Ksh. 500 Million in Infrastructure Bond
 
30 Mar, 2009; Gulf African Bank has recently participated in the recently launched ...
   
  Gulf African Bank Launches Shar'iah Compliant Mortgage Finance
 
27 Mar, 2009; Gulf African Bank has launched a Shar'iah compliant Home Financing Product which ...
   
  Vatican supports Islamic banking
 
9 Mar, 2009; A raging global financial crisis has won Islamic finance backing from an unexpected ...
   
  Islamic finance may be cure for crisis, Vatican suggests
 
07 Mar, 2009; As world markets suffer under the weight of the ongoing global financial crisis, ...
   
  Islamic banks 'better in crisis'
 
03 March, 2009; Advocates of Islamic finance say it copes better with crisis Indonesian ...
   
  Islamic bank starts mortgage scheme
 
March 2, 2009; Competition for clients in the property financing sector moved a notch higher ...
   
  Enterprise branch and our third branch in Eastleigh completes Phase One of our Expansion Plans
 
31 Jan, 2009; Our eighth and ninth branches are officially open, Enterprise Centre on Enterprise ...
   
  Gulf African Bank to offer POS services
 
January 22, 2009; Gulf African Bank customers can now shop for goods and services using their ...
   
  Another feather in our cap as Garissa branch opens
 
Nov 5, 2008; We are proud to announce that our Garissa branch is officially open as from 27th ...
   
  Islamic banking a safer bet amid turmoil in market
 
October 29, 2008: Islamic Financing could grow following the crumbling of the US mortgage market ...
   
  Unveiling another innovative product for Women
 
October 23, 2008; Gulf African Bank, Kenya's pioneer fully Shar'iah Compliant Bank, has launched ...
   
  Islamic banking on the roll despite challenges
 
September 17, 2008; Sorouh Real Estate Company based in Abu Dhabi completed the world's largest ...
   
  Unique Product from Gulf African Bank
 
September 9, 2008; Gulf African Bank has launched a unique product especially for Muslims who ...
   
  Gulf African Bank unveils pilgrims' savings account
 
September 1, 2008; Gulf African Bank, the first fully Sharia compliant bank in Kenya, has ...
   
  Expansion plans on course
 
August 28, 2008; Our expansion plans are in full gear as we open our fourth branch. Mombasa is a ...
   
  CEO certain Islamic banking will take root in Kenya
 
August 26, 2008; For Najmul Hassan, 54, the new CEO Gulf African Bank, starting a business from ...
   
  Sharia-friendly bank expands to Coast
 
August 20, 2008; GulfAfrican Bank, the Islamic bank, will open its first Mombasa branch on ...
   
  Gulf African Bank set to open more branches
 
August 14, 2008; Gulf African Bank plans to step up its branch network from three to 11 before ...
   
  Inside Gulf African Bank
 
July 14, 2008; How the shari'ah compliant bank is pioneering interest-free loans and a new form ...
   
  Islamic rules on banking flouted, claim scholars
 
July 14, 2008; Conventional banks are penetrating the Muslim markets, which they had neglected ...
   
  Time value of money in Islamic banking
 
July 11, 2008: Many people question whether Islamic finance differs meaningfully from ...
   
  Sharia friendly bank to open 25 branches
 
July 9, 2008; An Islamic bank plans to open 25 branches throughout the country as it spreads its ...
   
  Sukuk and the city
 
July 03, 2008; In an exclusive report from the 2008 Sukuk Summit in London, Richard Agnew ...
   
  Kenya's first Islamic bank sees more M.East funds
 
May 21, 2008; Kenya's first Islamic bank sees more M.East funds
   
  Islamic banks begin their African safari
 
May 16, 2008; Islamic banks begin their African safari...
   
  Islamic bank wants Act amended
 
May 14, 2008; A financial institution wants the Banking Act amended to make Shari'ah compliant ...
   
  Gulf African Bank to list in the NSE
 
Apr 7, 2008; Gulf African Bank has announced plans to list on the Nairobi Stock Exchange (NSE) ...
   
  Governor in Gulf to seek investment opportunities
 
Kenya stepped up its search for new markets with Central Bank Governor actively wooing investors ...
   
  Kenya get first Islamic Bank
 
Mar 14, 2008; Two branches of the first fully Sharia compliant bank in Kenya, the Gulf African ...
   
  Islamic banking set to gain a foothold in Kenya
 
Mar 14, 2008; Islamic banking is set to take off in Kenya following the commencement of ...
   
  Sharia-friendly bank starts business
 
Kenya's first fully fledged Islamic bank has opened its doors, with two branches already ...
   
  New players eye niche segments in banking
 
December 6, 2007: For all the talk of competition in the banking sector, a window remains open ...
   
  IFC eyes Islamic banks
 
October 04 2007: World Bank private lending affiliate, International Finance Corporation, is ...
   
  PTA Bank raises capital base to Sh140bn
 
PTA Bank President Michael Gondwe
March 14, 2008: PTA Bank is seeking to increase its ...
   
Archive
Gulf African Bank set to open more branches
By Jackson Okoth, Standard Newspaper

Gulf African Bank plans to step up its branch network from three to 11 before the end of the year.

The bank also plans to increase its branches to 25 by next year and have footprints in Uganda and Tanzania.

The move comes in the wake of intense competition for the Muslim niche market, a development that has attracted a number of conventional banks.

While making a courtesy call on Standard Group offices, at I&M Towers Nairobi, Gulf African managing director Najmul Hassan said, " there has been a misconception that this is a bank for Muslims. We cater for people of all faiths."

He also revealed that the bank will set up call centres to provide information on Islamic banking products, to interested customers.

A recent entrant in the market, Gulf African Bank partners with customers to offer various savings accounts including Annisaa, Haji and Mudharaba. It also provides working capital, home and motor vehicle finance, trade finance, guarantees and bid bonds.

It aims to introduce a socially responsible way of banking.

''We do not invest in tobacco related activities, gambling, drugs as well as speculative activities," said Hassan. Among its products is home finance.''In Islamic mortgage, we divide the risk equally between the bank and the customer. In case of defaults, the bank takes the loss to the extent of its share of the risk," said Hassan.

Banking booklet
While receiving a guide to Islamic Banking booklet from the bank, Standard Group Managing Director Mr Paul Wanyagah said, " Gulf African Bank offers banking in a new light and we need to explore ways of working together to consolidate this partnership."

Gulf African Bank conducts business on the principles of Shari'ah, providing an ethical and fair mode of banking.
Institutional investors account for about 90 per cent of the bank's shareholding and the balance held by individual Kenyan investors.

Among key shareholders include Istithmar PJS, a major investment house based in the United Arab Emirates focusing on private equity, real estate and strategic investments.

 
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