Bank of Uganda governor calls for Islamic banking

The Governor Bank of Uganda, Prof. Tumusiime Mutebile has asked parliament to speed up the enactment of a law which will legalize operations of Islamic Banking in Uganda.

Mutebile while addressing Member of the private sector in Kampala says, the enactment of the law is long overdue and therefore, legislators must pass this bill into law.

He says this will help to improve the banking sector in Uganda, because Islam also makes a large Population in Uganda.

However, says that the current economic challenges which the country is facing needs to be addressed through investing more in the export sector.

He says this will help the stabilize the depreciation of the shilling against the dollar.