Bank of Uganda Urged to Resolve Delay in Establishing Islamic Banking: Finance Minister

Acknowledging the technical, legal and personnel problems facing the Bank of Uganda (BoU), Matia Kasaija, the Ugandan Finance Minister has urged the relevant personnel within the BoU to work around the clock to finalise the establishment of Islamic banking in the country.

According to Kasaija, the Government of Uganda had played its part by way of passing the law and it was now up to the BoU to take matters forward with regards to the effective implementation of an Islamic banking system.

The Finance Minister also highlighted awareness on the discontent of key stakeholders regarding the delay in operationalising Islamic banking services in the country and stated that he was in regul...