MPs form network to promote Islamic Banking

Woman MP Syda Bbumba interacts with managing director Tropical Bank Sameh Kreshi after the Uganda Parliamentary forum on Islamic banking and finance meeting at parliament on March 24, 2017. Photos by Maria Wamala

Members of Parliament have formed a network to promote Islamic Banking in the country.

Codenamed Uganda Parliamentary Forum on Islamic Banking and Finance, the legislators who came together to form the network have elected Nakaseke North MP Syda Bumba to be its leader.

Governor bank of Uganda Emmanuel Mutebile interacts with managing director Tropical Bank Sameh Kreshi after the Uganda Parliamentary forum on Islamic banking and finance

 
The forum held a sensitization workshop for MPs today at parliament about Islamic Banking which was attended by the state minister for finance David Bahati, and  Bank of Uganda governor Emmanuel Mutebile.

Bumba, who is a former minister for finance, said Islamic Banking will provide affordable loans which are lacking in Uganda's financial sector.

 
The coordinator and publicity secretary of the forum is the Kawempe North MP Latif Ssebaggala.

Finance consultant Grace Ndyabaleeba asked MPs to amend the Income Tax to protect Islamic Banking beneficiaries from double taxation.