Islamic Banking: BoU issues first licence to Salaam Bank
23- March-2024
Bank of Uganda (BoU) has authorized Salaam Bank to start offering Islamic Banking services in Uganda.
Mr. Michael Atingi-Ego, the Deputy Governor, Bank of Uganda on Friday handed over the first operational certificate to the administrator of Salaam Bank, launching Islamic Banking in the country.
Speaking at the ceremony, Atingi-Ego noted that Islamic banking has the potential to make a significant contribution to the development of Uganda’s economy.
“The Bank of Uganda is committed to providing oversight and support to Salaam Bank Limited as it embarks on this new journey. Islamic banking has the potential to make a significant contribution to the development of Uganda’s financial sector,” Atingi-Ego said.
He says within the next 12 months, the bank wi...