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State to accommodate Islamic finance

Kenya has made adjustments to its banking sector to let Islamic finance institutions set up and prosper, the governor of the Central Bank of Kenya (CBK) said on Monday.

Njuguna Ndung’u — whose statement was read to a conference in Nairobi — said Islamic finance had the "overwhelming support" of Kenya’s Muslims and non-Muslims, but as a regulator CBK faced challenges in encouraging the niche market.

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