New law will allow Islamic banks – Uganda governor
The Bank of Uganda is reviewing the financial institution act to make it compatible with the Islamic banking model, said Emmanuel Tumusiime-Mutebile, the governor of the central bank.
Tumusiime-Mutebile said the central bank was in the process of amending the relevant provisions of the act to accommodate Islamic banking, or enable existing banks to offer Islamic banking products. He said the central bank also received technical assistance from the Islamic Development Bank (IDB) to train the bank
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