Introducing Africa’s first digital Islamic bank

First of all, what is NylaBank? 

In a world where conventional banking often prioritizes profit over ethics, NylaBank emerges as a groundbreaking alternative. Designed for individuals seeking to manage their money ethically, NylaBank offers a fully digital Islamic banking experience with Shariah-compliant products built on the principles of fairness, transparency, and equity.

With NylaBank, you can access Shariah-compliant savings and current accounts, transfer money to friends and family both locally and internationally, pay bills, pay for Zakat and Sadaqah, and get NylaCards—all while enjoying 24/7 customer support and Nyla AI, our AI-powered financial companion, available to help you navigate the app and answer any Islamic finance question you have.

What is the big vision?

Our goal is to become the world’s largest Islamic bank by empowering 1 billion people with Shariah-compliant financial solutions. We achieve this by designing exceptional, user-friendly products with ethics at their core.

How about Islamic banking?

Islamic banking is a financial system based on principles of fairness, ethics, transparency, and sustainability. It operates using profit-sharing models instead of interest-based lending, promotes asset-backed transactions free from speculation and uncertainty, and avoids investments in industries considered unethical, such as alcohol and gambling. Additionally, it ensures that returns are linked to risk, fostering a more equitable financial system.

Simply put, it’s a banking system that safeguards your deposits and manages your money responsibly, ethically, and transparently.

Why now?

There is a growing demand from financial institution customers for transparency, accountability, and social responsibility which is driving decreasing trust in financial institutions. Islamic banking stands as a firm alternative to the conventional banking system which solves the problem.

Additionally, customers now seek financial services that they can access conveniently from home. NylaBank, a digital-first bank, not only meets their ethical banking needs but also provides the convenience of modern digital banking.

How is NylaBank compliant?

NylaBank is built by a team of fintech, banking, and Shariah-compliance experts with over 35 years of experience. Our platform is designed with high technological standards to ensure compliance with both Shariah banking principles and fintech regulations.

Furthermore, NylaBank operates as a financial technology company that partners with established financial institutions, including Islamic banks and traditional banks through an Islamic banking window.

Why will NylaBank be launched? 

NylaBank will be launched in Ghana in 2025 in partnership with a commercial bank. 

How do you get involved? 

As we prepare for our launch, join our waitlist on our website to stay updated on our latest developments. Follow us on social media @banknyla for more updates!