HE Museveni to Launch the Islamic Bank on Wednesday, As ONC Cerebrates Ramathan Period with Muslim Community

On Wednesday 27th March 2024, a momentous event will take place in Kampala, Uganda. Muslims from all across the country will gather at the Kololo ceremonial ground to receive food items from the office of the National Chairman of the National Resistance Movement (NRM).

This event holds great significance for the Muslim community, as it is also a time to express gratitude towards President Yoweri Museveni for his recent decision to sign a law legalizing Islamic banking in Uganda. The launch of Salaam Bank, the first licensed bank that adheres to Islamic banking principles, will also take place on this auspicious occasion.

This is a major step towards promoting financial inclusion and economic growth for the Muslim community in Uganda. With the establishment of an Islamic bank, Muslims can now access credit without the fear of riba (interest), which goes against the principles of Islam.

The significance of this event goes beyond just the launch of a new bank. It is a moment of unity for the Muslim community in Uganda, where people from all walks of life will come together to celebrate this achievement. It is also an opportunity to showcase the values of Islam, such as brotherhood and helping those in need.

The timing of this event is also noteworthy, as it falls during the holy month of Ramadan.

This will not only provide an opportunity for Muslims to come together and celebrate, but it also enables the needy to access food items for their Ramadan fast. The credit for this historic event goes to Hajjat Hadijah Namyalo, whose efforts have made it possible for Muslims in Uganda to access Islamic banking services.

“This is a groundbreaking achievement, as it has never been done before in the country. In light of this, all Muslims in Uganda must make an effort to attend this event. It is a momentous occasion that marks a significant milestone for the Muslim community in the country. Let us all come together at Kololo on Wednesday 27th March 2024 to celebrate this historic event and express our gratitude towards President Museveni for his support towards the Muslim community” Namyalo added