CEO certain Islamic banking will take root in Kenya

Mr Najmul Hassan

August 26, 2008: For Najmul Hassan, 54, the new CEO Gulf African Bank, starting a business from near scratch is not new.  That is why he did not find quitting a high profile job, as general manager of Al Meezan in Karachi, Pakistan, to head Kenya’s 43rd bank a problem. It is also the first fully Sharia compliant bank in the country.

The model is taking root in Kenya at a time when there are deep seated global stereotypes against the basis on which the concept is based.

“When Islamic banking is mentioned, things like Al Qaeda and terrorism come up which stereotype this form of banking. My challenge is to change the perception of people, which is not really easy because  there are many global things happening that are building perceptions about Islam and managing that challenge is a really huge task,” Najmul Hassan says.   (what he does not mention is Zakat, due diligence, and transparency, or what Shariah is in full)

This story is available in full in the Business Daily e-paper.

You may subscribe to the newspaper here.