• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News
No Result
View All Result
Watchdog Uganda
No Result
View All Result

Islamic Banking to take effect soon, Kadaga assures Muslim community

watchdog by watchdog
6 years ago
in Finance, National, News
5 0
ShareTweetSendShare

The Speaker of Parliament, Rebecca Kadaga has re-assured the Muslim community that Islamic Banking will soon be operational.

Kadaga who was presiding at the Annual Parliament Iftar dinner on Friday, 10 May 2019 said that following the passing of the bill, the Minister of Finance was tasked with seeing that Islamic Banking is effected.

“I want to assure you that the Minister of Finance is here to inform us on how far Islamic banking is as we had made an undertaking on updating you on the same.,” she said.

The Speaker also called on the faithfuls to always share what they have with the less privileged in society.

“While in hospital , I read a book about a Nigerian governor who gave a lot every Friday. He survived two plane crashes, one motor accident and I believe that was why the Lord saved his life,” she added.

In 2016, the Parliament passed the Financial Institutions Amendment Bill, which introduced the Islamic system of banking that allows for access to interest free loans with no collateral. Passing this Bill however, is subject to the establishment of a Central Sharia Advisory Board in the Central Bank to regulate Islamic banking.

The Minister of State for Finance David Bahati assured the Muslim Community that the law was in operation to allow Islamic banking.

“I would like to inform you that the Members of Parliament did amend the Law to allow Islamic banking, which is now operational. So far one bank has applied and has been licensed, we are inviting all banks to come and take up this opportunity,” he added.

The Deputy Speaker, Jacob Oulanyah also graced the occasion and encouraged the Muslim Community to be generous in this period and assured them that he would be joining them in prayer.

“I will be praying with you during this time because God is God and we serve the same God. I have also seen so many of my old friends; this event has brought us together and we can remind ourselves of the bond we have as citizens of this country,” he said.

Parliament for six years has opened its gates to the Muslim Community to share in Iftar dinner. Iftar is one of the religious observances of Ramadan and is often done as a community, with people gathering to break their fast together. Iftar is taken just after the call to prayer Maghrib, which is at sunset.


Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
Share1Tweet1SendShare

Related Posts

National

President Museveni calls on Ugandan diaspora to register for better government planning 

3rd September 2025 at 14:01
Business

Makerere University Alumna Association Hosts Inaugural CEO/Investors Roundtable Summit, Calls for Bold Youth Investment

3rd September 2025 at 13:53
Business

Ham-Haruna: Two Brothers Unrelentingly Pushing Uganda Beyond Known Limits

3rd September 2025 at 13:21
Next Post

Catholic Church joins "Tuve KuKaveera" campaign ahead of Martyrs Day Celebrations at Namugongo

  • Kampala’s Nakivubo Channel Set for Transformation Under HAM Enterprises’ Visionary Project

    313 shares
    Share 125 Tweet 78
  • Haruna Towers the 16-floor masterpiece rising at Wilson Road to Transform Kampala’s Skyline forever

    211 shares
    Share 84 Tweet 53
  • Has Sudhir named ‘RR Pearl Tower One’ As A Landmark Memorial to Rajiv Ruparelia?

    81 shares
    Share 32 Tweet 20
  • 10 dangerous hotspots known for prostitutes in Kampala

    1238 shares
    Share 495 Tweet 310
  • Uganda’s SGR National Content Meeting at Speke Resort Set to Boost Local Participation in Euro2.7bn Railway Project

    36 shares
    Share 14 Tweet 9
Facebook Twitter

Contact Information

Watchdog Uganda is a portal for solution journalism, trending news plus cutting edge commentaries in the fields of politics, security, business, tourism, entertainment, technology, agriculture, climate change, environment, public health et al. We also give preference to Ugandan community news and topical discussions. The portal also publishes community news and topical discussions.

Email: editorial@watchdoguganda.com
To Advertise:Click here

Latest News

President Museveni calls on Ugandan diaspora to register for better government planning 

3rd September 2025 at 14:01

Makerere University Alumna Association Hosts Inaugural CEO/Investors Roundtable Summit, Calls for Bold Youth Investment

3rd September 2025 at 13:53

Check out

  • Trending
  • Comments
  • Latest
Minister Muruli Mukasa

LIST: New salary structure for civil servants starting July 2020 out; scientists, lecturers get juicy pay rise

24th May 2020 at 10:45
Pregnant woman

Shock as 17-year old boy impregnates his two sisters during Covid-19 lockdown 

17th June 2020 at 08:17
Sudhir Ruparelia is the undisputed king of Kampala

Billionaire Sudhir’s wisdom on how to invest in real estate

0

How a boy’s destiny turned from cotton grower to communications guru

0

President Museveni calls on Ugandan diaspora to register for better government planning 

3rd September 2025 at 14:01

Makerere University Alumna Association Hosts Inaugural CEO/Investors Roundtable Summit, Calls for Bold Youth Investment

3rd September 2025 at 13:53

© 2025 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
    • Media Outreach Newswire
    • Africa News
    • Tourism
    • Community News
    • Luganda
    • Sports
      • Football
      • Motorsport
  • Op-Ed
    • #Out2Lunch
    • Conversations with
    • Politics
    • Relationships
  • Business
    • Agriculture
    • CEOs & Entrepreneurs,
    • Companies
    • Finance
    • Products
    • RealEstate
    • Technology
  • Entertainment
    • Lifestyle
  • People
    • Showbiz
      • Salon Mag
  • Special Report
    • Education
    • Voices
  • Reviews
    • Products
    • Events
    • Hotels
    • Restaurants
    • Places
  • WD-TV
  • Donate
  • China News

© 2025 Watchdog Uganda