In Tanzania, sharia-compliant banking currently accounts for a marginal share of the Tanzanian financial sector. Recent estimates expect that Islamic financial assets in Tanzania could reach more soon.
Tanzania is preparing the legal framework for Islamic finance products such as the issuance of Islamic bonds (Sukuk) and in order to help financing Tanzania's SME it will promote Sukuk, Takaful (Islamic insurance) and halal microcredit.
Currently, Tanzania has a number of fully operational Islamic banks which serve retail and islamic corporate banking offering halal financing products such as Ijara, Ijara-wa-iqtina, Mudaraba, Murabaha and Musharaka.
TANZANIA ONLINE SHARIA BANK