KCB Partners with Mastercard to Boost Shariah-Compliant Digital Payments
The partnership with Mastercard marks another step in KCB's strategy to broaden its portfolio of Islamic banking products while promoting greater financial inclusion through innovative, values-driven banking solutions.
KCB Bank Kenya has partnered with Mastercard to introduce an Islamic finance payments solution for customers under its Sahl Banking offering, expanding access to Shariah-compliant financial services in Kenya.
As part of the partnership, the bank has launched the Sahl Card, a payment solution designed to provide customers with a secure and convenient way to manage their spending while remaining aligned with Islamic finance principles. The card enables users to make everyday purchases and payments while accessing a range of lifestyle and travel benefits.
In addition, KCB has unveiled the Sahl Agency Banking network, enabling customers to deposit funds, withdraw cash, make payments and access other essential banking services through a network of banking agents. The initiative is aimed at improving accessibility to Shariah-compliant banking services for customers across the country.
The bank said both solutions have been developed in accordance with Islamic finance principles, offering customers financial products that reflect their values and preferences while maintaining convenience and security.
Mark Mwongela, Group Director for Strategy and Innovation at KCB Group, said the launch demonstrates the bank’s commitment to providing inclusive financial solutions tailored to the diverse needs of its customers.
“We remain committed to developing financial solutions that reflect the diverse needs and aspirations of our customers. The Sahl card represents an important step in expanding access to Shariah-compliant banking solutions by providing customers with a secure, convenient, and values-driven payment option that supports their everyday financial and lifestyle needs.”
– Mark Mwongela, Group Director, Strategy & Innovation, KCB
According to the bank, Sahl Card holders will enjoy a range of exclusive privileges, including culinary experiences, travel benefits and curated lifestyle offers available both locally and internationally where applicable. The card also includes spend management controls, transaction alerts, concierge services and an Islamic-themed design that reflects the values of its target customer base.
The partnership with Mastercard marks another step in KCB’s strategy to broaden its portfolio of Islamic banking products while promoting greater financial inclusion through innovative, values-driven banking solutions.
