Zimbabwe

Not yet checkedChecked 2026-11-14 · confidence low

We could not search the Reserve Bank of Zimbabwe's website: on 14 Nov 2026 it showed a bot check. Searches of the securities and insurance regulators' sites found nothing on Islamic finance, sukuk or takaful.

Five checks

Banking rulesNot checked

Not properly checked. The Reserve Bank of Zimbabwe site returned a CAPTCHA page, and a domain search of rbz.co.zw returned no pages. General web searches found no Reserve Bank rule on Islamic or non-interest banking. A December 2023 AlHuda CIBE press release says Islamic banking in Zimbabwe is at an early stage.

  • “Islamic banking and finance in Zimbabwe are on the early stage of development.”
    Zawya · 2023-12-06 · secondary
Licensed banks and windowsNot checked
Sukuk issuedNot checked
Takaful (non-interest insurance)Not checked

The Insurance and Pensions Commission's own site search for 'takaful' and 'islamic' returned no results on 14 Nov 2026. No takaful operator was found in web searches. Left open because the central bank could not be searched.

Capital market rulesNot checked

The Securities and Exchange Commission of Zimbabwe's own site search for 'islamic' and 'sukuk' returned 'Nothing Found' on 14 Nov 2026. No approved Shari'ah fund or sukuk was found in web searches. Left open because the central bank could not be searched.

Recent developments

  1. 2023-10AlHuda CIBE and the Zimbabwe Association of Microfinance Institutions ran a two-day Islamic banking and microfinance training in Harare. Training only, no product or approval (press release). source

Still open

Points we could not confirm at source yet.

  • Direct check of the Reserve Bank of Zimbabwe site for any Islamic or non-interest banking rule or approval (blocked by bot check).
  • An undated Anadolu report on Malawi said the interest-free model is 'already used in Zambia, Zimbabwe, and South Africa'; nothing found supports this for Zimbabwe.
  • A Cbonds listing tags a Zimbabwe-related bond as 'Sukuk' (access-restricted, not verified); likely a mis-tag.
Where we searched
  • Reserve Bank of Zimbabwe (rbz.co.zw): 14 Nov 2026 download returned a Radware CAPTCHA page (not bypassed); earlier domain-restricted search returned no RBZ pages; general searches for Islamic or non-interest guidelines and 2025 monetary policy statements found no Islamic mention
  • Securities and Exchange Commission of Zimbabwe (seczim.co.zw): home page and site searches for 'islamic' and 'sukuk' read 14 Nov 2026, Nothing Found
  • Insurance and Pensions Commission (ipec.co.zw): home page and site searches for 'takaful' and 'islamic' read 14 Nov 2026, no results
  • Ministry of Finance / Treasury: web search for sovereign sukuk found only conventional instruments
  • Bank names searched: CBZ, ZB Bank, NMB, Nedbank Zimbabwe, FBC (no Islamic products found)
  • Secondary: Zawya (read), TechZim (HTTP 426), Pakistan Observer