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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Uganda: Introduce Islamic banking to curb exploitation

Posted on 13 September 2012

Islamic banks do not give loans to customers based on pre-determined fixed interest rates. Under Islamic banking both profits and losses are shared by both parties.
The Bank should introduce other forms of banking systems that will entail justice and fairness. BOU should play a leading and an encouraging role in the introduction of Islamic Banking, which is a banking system that has been embraced by both Muslims and non-Muslims because of its unique characteristics………………………………………..Full Article: Source

 
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