IslamicFinance.de

Finance Minister Matia Kasaija has said that whereas Bank of Uganda still has challenges, it should work around the clock to quickly resolve the pending establishment of Islamic Banking. Mr Kasaija said that, as government, they had done their job to pass the law and it was now the work of the Central Bank to operationalise the Shari'a-based banking system. In 2016, government enacted the law that would introduced Islamic Banking, agent banking and bancassurance, among other products. However, whereas other products have already been established, implantation of Islamic Banking continues to be delayed.