AlHuda CIBE Set To Enter Into Uganda Market

Uganda: AlHuda Centre of Islamic Banking and Economics (CIBE) is set to enter into partnership with Uganda Technology and Management University (UTAMU) aimed at building capacity in banking and finance in Uganda. According to the Director of Engagement, Research and Innovation, Assoc. Prof. Dr. Florence Tushabe, UTAMU, the partnership will see the Islamic banking institution start operations in Uganda that will come in 2015. She further added that UTAMU will promote all events, trainings and conferences through conducting workshops, seminars and other programs in Uganda”.

Mr. Imran Gul Khan, Head Senior Management, AlHuda CIBE said that our collaboration will include creating awareness, building capacity for banks staff training in the field of Islamic Banking and Finance. He said that the first training would kick off by the end of January 2015. Muslims are now becoming more concerned with what is compliant with their faith and this cross into their day-to-day financial dealings. As Uganda has a Muslim population of nearly 4m, or 12% of its total population of 33m, there is a dire need to open up new horizons for Islamic banking and finance in the country.

Mr. Ahmad Abdullah, the country head of AlHuda CIBE Uganda, has said that the initiation of AlHuda CIBE setup in Uganda enjoys welcomeness and it will improve Islamic Banking in the country. He said that there is an enormous demand of Islamic Banking and Finance in Uganda. Moreover, the central bank of Uganda provides all the facilities necessary to help promote islamic banking and finance.