Islamic finance

Press Releases

Shelter Afrique secures technical assistance grant from IsDBI to develop affordable Islamic housing products

Shelter Afrique sees the development of Islamic finance products as a viable alternative financing model to effectively address Africa’s housing and urban development challenges
Shelter Afrique managing director Thierno Habib-Hann, middle, and other officials at COP28 in Dubai, 6 December. Shelter Afrique, a pan-African housing finance institution, announced a collaboration with the Islamic Development Bank Institute (IsDBI) on the sidelines of COP28. The partnership aims to develop Islamic housing finance products to meet the growing demand for affordable and climate-resilient housing solutions across the continent.
Banking

BoU grants Salaam Bank first Islamic finance licence

Salaam Bank Ltd was granted Uganda's first Islamic banking licence, weeks after the president assented to the final piece of legislation paving way for the banking method
A row of nine men, all standing, at a banking licence handover event
Politics & Policy

No bank has applied for Islamic banking licence – BoU

No bank has formally applied for an Islamic banking licence even though there have been expressions of interest in the model from both local and international institutions, according to the deputy governor of the Bank of Uganda, Louis Kasekende
Politics & Policy

Bank of Uganda, central bank of Sudan to strengthen ties

Bank of Uganda and the Central Bank of Sudan have agreed to explore all avenues to consolidate and expand trade and investment between Uganda and Sudan