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The latest industry projections point to continued expansion, with the 2025 Islamic Finance Development Report estimating total Islamic finance assets at about Sh557.28 trillion in 2024 and projecting further growth towards 2029. The report also notes that Islamic banking is expanding in sub-Saharan Africa, with Islamic banks and banking windows operating across numerous markets
The strong performance by equities comes against a backdrop of relatively stable monetary conditions in Kenya
Islamic Finance is based on Shariah, or Islamic law, and differs from conventional banking through principles including the prohibition of interest, restrictions on speculative or excessively uncertain transactions and limits on investment in prohibited activities
The rise in lending has come alongside a steady fall in the rates charged by commercial banks. The average lending rate dropped to 14.3 percent in July from 14.4 percent a month earlier and 17.2 percent in November 2024.
The Monetary Policy Committee said the global economic outlook has weakened, with growth now expected to come in at 3.0 per cent in 2026 compared to 3.5 per cent recorded in 2025.
Njoroge, who served as the ninth governor of CBK, was speaking in an interview on Monday, August 10, 2026, as he reflected on the challenges he faced during his tenure. He returned to Kenya after spending about 20 years at the International Monetary Fund (IMF), having previously worked at the Ministry of Finance. His appointment brought him back to a country he said had changed considerably during his long absence.
Data from the Central Bank of Kenya (CBK) shows the value of card transactions fell to Sh220.04 billion in the six months to June 2026 from Sh248.8 billion recorded during the same period in 2025. This marks an 11.55 per cent decline in the amount spent through cards.
The Office of the Controller of Budget is mandated to oversee the implementation of national and county government budgets by authorising withdrawals from public funds. It also prepares statutory reports, publicises its findings and investigates the use of public money either on its own initiative or following complaints from members of the public.
The regulator also wants the proposed law to retain penalties for institutions that breach anti-money laundering requirements, saying those provisions already exist in the current law but have been left out of the new Bill.
The latest performance marks the biggest January-to-June decline since 2009, when the effects of the 2008 global financial crisis caused remittances to Kenya to fall by 11.4 percent following widespread job losses in advanced economies.
The National Assembly Finance and National Planning Committee secured the amendments to the Sovereign Wealth Fund Bill, 2026 during debate in the Committee of the Whole House.
The latest performance echoes the trend seen in 2023 when remittance inflows during the review period fell by 1.8 percent. At the time, rising prices across major economies reduced the amount of disposable income available to migrant workers, limiting the money they could send to relatives back home.