What Ugandans need is Islamic banking

During the twelfth Bank of Uganda annual Eid party, held at the central bank on September 7, a group of Muslims under their umbrella Contact Group on Islamic Banking, managed to get a word on Islamic Banking in, with bank governor Emmanuel Tumusiime-Mutebile. He assured them that the central bank had already done its homework and submitted the proposed amendments to the Financial Institutions Act.

“We also had a word with Dr Anas Kaliisa, renowned Sharia expert who presided over the closing ceremonies. Dr Kaliisa appreciated the pioneering efforts of Contact Group on Islamic Banking and assured us of his full technical support,” Kalinge Nyago wrote on an Islamic social networking website, Uganda Muslim Brothers and Sisters.

The chief guest, Gen Moses Ali, also called for the introduction of Islamic banking in Uganda.

“The bank should exacerbate the introduction of other forms of banking systems that will entail justice and fairness. BoU should play a leading and encouraging role in the introduction of Islamic banking, which is a banking system that has been embraced by both Muslims and non – Muslims because of its unique characteristics,” said Moses Ali who was minister of Finance in 1976 at the age of 38.

source : observer.ug

http://www.observer.ug/index.php?option=com_content&view=article&id=20882:-what-ugandans-need-is-islamic-banking&catid=43:sizzling&Itemid=71

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