Safaricom launched a Shari'ah-compliant money market fund that attracted 1.5 million users within its first month. The fund holds Sh230 million in assets, offering an alternative for investors who adhere to Islamic financial principles.
The initiative aims to provide accessible investment options for Muslim customers who are restricted from conventional financial products. The fund operates under Shari'ah guidelines, ensuring compliance with religious standards.
This marks a significant step for Safaricom in expanding financial services to a broader demographic. The fund's rapid adoption suggests a strong demand for ethical investment solutions. The company plans to continue promoting such products to meet market needs.
