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His Eminence Sheikh Shaban Ramadhan Mubaje, the Mufti of Uganda, hosted a team from Salaam Bank led by Mr. Michael Mande, the Managing Director, at his office at the UMSC headquarters on Tuesday, May 22, 2024.
The purpose of the courtesy visit was to acquaint the Mufti and the entire UMSC with their newly established banking institution, which operates on Islamic Banking principles and was recently launched by H.E. Yoweri Kaguta Museveni, the President of Uganda.
In his welcoming remarks, Mufti Mubaje expressed his delight at the initiative. He also provided his guests with a brief history of UMSC, detailing its current state, structure, and operations. He shared best managerial practices, emphasizing the importance of self-reliance over financial donations. “We really welcome this initiative. You have good will, and moving together could be one of the ways to demand our share from the government,” Sheikh Mubaje said.
Sheikh Mubaje advised his guests not to involve certain individuals within the Muslim community who masquerade as leaders in their bank activities and to avoid politicizing the bank. He emphasized the importance of inclusivity for all clients, regardless of affiliation, including in staff recruitment. He also urged them to organize and support workshops to educate Muslim leaders on the concept of Islamic Banking, so they could disseminate accurate information to their communities. Additionally, he suggested advertising their products through Muslim-based media channels such as Global TV and Radio Bilal. Lastly, he paid tribute to President Yoweri Museveni and the government for availing an enabling environment that has led monumental achievements for the Muslim community, including the enactment of Islamic Finance Banking systems, the establishment of IUIU, and the construction of the National Mosque, among others. Hon. Hadji Abbas Muluubya Ssekyanzi, the UMSC Secretary General, highlighted that the concept of Islamic Banking was indeed the brainchild of Mufti Mubaje, who has tirelessly lobbied for it whenever he had the opportunity to address the President, including during his official visit to the National Parliament where he presented it as part of the tax reforms. Hon. Counsel Haj Muhammad Ali Aluma, the Deputy Secretary General in charge of Finance and Administration, called for a closer working relationship between the UMSC-based Majlis Sacco and the bank.
The meeting was attended by UMSC heads of department.