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FDH Bank launches Malawi’s first Islamic Banking services

The local financial sector will from Thursday this week have the first Islamic Banking services introduced by FDH Bank.

FDH Bank Board Chairperson Charity Mseka says the system follows the Sharia Islamic law on financial services, which operates without interest.

Chairman of the Sharia Advisory board Sheik Ibrahim Lethome has since emphasized on the need for significant investment in education and awareness of how Islamic Banking operates.

It follows High Street’s FDH Bank establishment of the Salama Banking solution.

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