Islamic banking will benefit Kenyans of all faith

Bishop David Oginde’s opinion piece “Why expansion of Sharia laws remains perturbing” published in the Sunday Standard last weekend gave the impression that some proposed reforms in the Finance Bill 2017 portend danger simply because they touch on Islamic financial products. Bishop Oginde was clever in his approach but his message was loud and clear; Reforms to help promote Islamic financial products in this country should be viewed as a grand scheme of Islamisation, subtly disguised in a policy cassock.

Here is why his arguments do not hold water: First, the good Bishop’s opposition to the institutionalisation of these reforms seems to be on the basis that they are discriminatory and would marginalise non-Muslims. Bishop Oginde notes, “The concern therefore is that such a move may result in a situation where the Muslim community enjoys preferential exempt status by government in the raising of taxes to fund national obligations, while non-Muslims continue to shoulder the burden.”