Uganda set for IF banking
Investors from the UAE have invested UGX12bn ($4.8m) in the National Bank of Commerce, formerly Kigezi Bank of Commerce, with the purpose of raising shareholder dividends and introducing Islamic banking in Uganda.
There are more than 200 local shareholders and a lobby group from them approached NBC’s management to ask for loans to help them invest in agriculture – something that the Emiratis were very interested in so they can secure food stability.
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