Uganda: Museveni Encourages Muslims to Tap Into the Benefits of Islamic Banking

President Museveni has urged the Muslim community to utilise Islamic banking for the advancement of their communities.

Museveni's message was delivered by Prime Minister Robinah Nabbanja during the official swearing-in ceremony of Sheikh Erias Kigozi as the substantive Kadhi of Wakiso Muslim District.

The event, filled with pomp and excitement, took place over the weekend.

President reiterated his recent comments when he met Muslim leaders at State House that the government through Parliament had passed the Islamic Banking law with the aim of facilitating social transformation programs in the Communities.

Recently, Parliament passed the Financial Institutions (Amendment) Bill, 2023, permitting borrowers to obtain interest-free loans under Islamic banking if signed into law by President Museveni.

Plans for implementing Islamic banking in the country have been ongoing for over a decade, under which borrowers and lenders share profits and losses based on a predetermined ratio.

The President also emphasised the importance of unity among Muslims.

"We encourage you to work towards unity and common good and note that any leadership that embraces and unites people in disregard of their tribes, divergent views, and affiliations is a blessing,"he said.

The President donated a brand new double cabin truck to Sheikh Kigozi to facilitate his movements while carrying out his official duties in the district.

Nabbanja also donated Shs 10 million to the Wakiso Muslim District SACCO.

She pledged to ensure that the newly built Abu Hamza Health Center III, which she commissioned upon her arrival, receives the necessary medical equipment to start serving the community.

Mufti Sheikh Shaban Ramadhan Mubaje highlighted the developmental programmes within Uganda Muslim Supreme Council (UMSC ) aimed at promoting unity and supporting community development.

Sheikh Kigozi also spoke about the development projects he had implemented since assuming office, acknowledging the financial constraints that hindered their full implementation.

Despite the challenges, Sheikh Kigozi said that his team remained committed to serving their communities.

He explained that they had already provided support to the Kabreng district in Karamoja, by providing boreholes, food, and building schools.

The ceremony was concluded with traditional gifts being given to the guests, including walking sticks, stools, and wrappers.

Sheikh Kigozi expressed his joy at assuming his new position and vowed to work diligently to advance the development of Wakiso Muslim District.

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