This research paper seeks to analyze the history of Islamic banking in Kenya, focusing on the emergence of a unique blend of regulations coupled with traditional social financing methods, exemplified by Uqub. The research methodology adopted for this study is qualitative and utilizes documents as sources of information. Maqasid al-Shariah theory and institutional theory have been used to assess the developmental stage of the industry. The results show that development has been influenced by factors other than regulation, such as product innovations, consumer education, and Sharia compliance. Recent developments, like the Linzi sukuk in 2024, illustrate growth in the capital market segment.
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- Guyo Golicha Huqa (Author), 2026, Historical Development of Islamic Economics, Banking and Finance in Kenya, Munich, GRIN Verlag, https://www.grin.com/document/1719376
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