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Absa Bank has announced the launch of the Islamic finance practitioner’s association, which aims to explore ways of increasing financial inclusion among members of the Muslim community. According to the banks, out of over 6 million Muslims in the country, barely 10 percent are included in the formal financial system. Speaking during the launch, ABSA Bank's head of Islamic banking, TEGO WOLOSA, noted that the lack of a standardized regulatory framework continues to make it harder for financial institutions to come up with more Sharia-compliant products.
Absa unveils Sharia-compliant products to tap Muslim market
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