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President Yoweri Museveni has officially launched the national operations of Salaam Bank in Uganda. This is as he joined the Muslim fraternity for Duwa Prayers at Kololo Independence Grounds on Wednesday, March 27. Salaam Bank Uganda, a subsidiary of a Djibouti-based bank, received the licence at the central bank late on September 8, 2023, after the Ugandan Parliament passed legislation to authorise Islamic banking, which President Yoweri Museveni signed into law in August 2034. The legislation removed the requirement to establish a “central sharia advisory council”, which the Bank of Uganda had opposed. “I welcome you Salaam Bank to Uganda….
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He has played a pivotal role in the seamless acquisition of Top Finance Bank by Salaam African Bank S.A, headquartered in Djibouti and subsequent transition into a fully-fledged Islamic financial institution and rebranded as Salaam Bank Limited. He also led the bank to obtain the first Islamic Banking License from the Bank of Uganda on September 8th, 2023. He holds over 13 years of executive leadership and operational expertise. He has undergone rigorous training at esteemed institutions such as the CEO Summit, Strathmore Business School, Busara Leadership Partners in South Africa, and the Rise School in Nairobi among others. I…
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Salaam Bank, formerly Top Finance Bank, has become the first financial institution in Uganda to be granted a license by the Bank of Uganda to offer Islamic Banking services. This followed the signing and handover of the operating license by the Deputy Governor, Bank of Uganda Michael Atingi-Ego to the Shareholders’ representative, Salaam Bank, Mr. Michael Mande, on Friday September 08th 2023. Speaking during the event, the Deputy Governor Dr. Michael Atingi-Ego reaffirmed the government and indeed Bank of Uganda’s salient mandate to provide an enabling economic environment that facilitates both local investments and attracts foreign investors. “As a strategically…
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