Amana Bank (Tanzania)

Summary

Amana Bank is a commercial bank in Tanzania, licensed by the Bank of Tanzania, the central bank and national regulator. ¹ Its headquarters are in the Golden Jubilee Tower in central Dar es Salaam. ¹

Origins

It was established in 2011 with paid-up capital of TSh 27 billion as the first fully Sharia-compliant bank in Tanzania; talks to set it up began in October 2009 among prominent Tanzanian business figures. ¹

Branches

In September 2018 it had branches in Dar es Salaam, Arusha, Mwanza, Tanga and Zanzibar, with branches in Dodoma and Pemba in development. ¹

References

English Wikipedia, "Amana Bank (Tanzania)", revision 1359331442. ¹

Islamic banks and conventional banks — the difference, the doubts and the performance

The two 'Al-Wasatiyya' episodes on Islamic banks. In the first, 56% of the studio audience said they could not define riba, 79% that they knew nothing of the murabaha, mudaraba, tawarruq and salam contracts, and they split into thirds on whether Islamic banks are free of doubt; in the second, 65% chose to buy by murabaha from an Islamic bank, 57% thought abolishing riba impossible while the world economy runs on interest, and 49% judged Islamic banks' social role weaker. The guests agreed that conventional bank interest is riba and differed over the existing Islamic banks.

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Islamic banks and conventional banks — the difference, the doubts and the performance