President William Ruto has announced a significant shift in the operational dynamics of the Hustler Fund, asserting that it will be recalibrated to align with Shariah principles, thus accommodating Muslim consumers.

In a statement made during an Iftar Dinner hosted at State House on Monday evening, President Ruto emphasized the strategic importance of this move in enhancing financial inclusivity across the nation.

With the goal of expanding the reach of the Fund and ensuring broader participation, Ruto highlighted the necessity of adapting financial instruments to adhere to Islamic Law.

He stated that packaging the fund to be Shariah compliant will deepen financial inclusion in the country.

“We will also adjust other Government financial instruments to comply with the Islamic Law,” he explained.

Read More

  1. Ruto unveils Taifa Care under SHA to advance UHC, to settle hospital debts
  2. All macroeconomic indicators point to a positive turnaround - President Ruto
  3. Ruto cancels Adani's Sh334 billion JKIA and KETRACO deals over US indictments

This adjustment, he added, aims to facilitate access to financial resources for all segments of society, fostering economic growth and development.

According to the government, the Hustler Fund established just 16 months ago, has already benefited over seven million Kenyans, signifying its pivotal role in addressing socioeconomic challenges.

President Ruto underscored the government's commitment to leverage such initiatives for the collective advancement of the nation.

The president affirmed that the move will make available more funds to drive the country’s development.

Moreover, President Ruto called upon religious leaders to actively engage in prayers for the nation's prosperity and unity.

He emphasized the collaborative effort required from all sectors of society to realize Kenya's full potential.

"We are on track to making Kenya a better country for all. It is our responsibility to make it greater," he asserted, urging collective action towards a brighter future.

This strategic recalibration of the Hustler Fund underscores Kenya's commitment to fostering inclusivity and accommodating diverse needs within its financial framework.

By embracing Shariah compliance, the government aims to create an enabling environment for all citizens to participate in and benefit from economic opportunities, thereby advancing the nation's development agenda.