As First Discount House FDH is expected to launch the first ever Islamic Banking window in the country, Muslim Association of Malawi MAM has applauded the move saying it is potential catalyst for economic growth.
Islamic Banking is an interest free system that works in line with Islamic laws.
In an interview with Radio Islam,MAM publicist sheikh Dinala Chabulika said the facility is a huge milestone in promoting economic activities not just among the Muslim community but the country at large.
Sheikh Chabulika said Muslims in the country have been advocating for introduction of the facility hence the move is a very welcome development.
He has appreciated the task force that has facilitated the introduction and implementation of the facility.
Sheikh Chabulika further said introduction of the facility is a step towards financial inclusivity and diversity therefore requested the masses to make use of the opportunity in advancing development.
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