Rahma Hersi is one of East Africa’s leading Islamic finance lawyers. She has been involved in advising and developing the industry not only in her home country of Kenya but also in other neighboring countries in East Africa. She has also been selected as a leading expert on Islamic finance, providing technical support and advice to the Capital Markets Authority of Kenya under their ten-year Master Plan for the development of the financial sectors in Kenya.
Rahma was nominated to sit on the Financial Law Review Panel by the Capital Markets Authority. She also advised on the first Islamic mortgage contract between the Bank and the government owned oil company in Kenya, National Oil of Kenya.
As a legal and regulatory expert she has drafted several modules in the Islamic Banking Rules for the Central Bank of Oman, including those on Shari’ah and Corporate Governance, Powers of Supervision and Control and General Obligations. She has also drafted policy and procedure manuals for Islamic banks in the Arab Gulf and Africa.
Rahma also drafted policy and procedure manuals for the first Islamic microfinance institution in Ethiopia using mudaraba, murabaha, musharaka, ijarah and salam contracts. She has also been instrumental in advising and structuring Islamic microfinance products for women and youth in Muslim minority cities within Kenya.
Rahma is an active member of Gateway’s Banking & Finance, Business Recovery, Conversion Factory, Dispute Resolution, Gender Equity & Inclusivity, In-House Regulatory & Compliance, Social Responsibility & Impact, and Waqf & Philanthropy practices.
Rahma is fluent in several languages including Arabic, English, Somali, Swahili and a working knowledge of Urdu. She is a Shari’ah trained lawyer with an LLB Hons in Shari’ah and Law from the International Islamic University of Islamabad. She also holds a Master of Laws in International Comparative Law from the Robert McKinney School of Law, and a Diploma in Islamic Finance Arbitration from INCIEF.