30.05.2011 - Is Uganda ready for Islamic banking?
In June 2008, the OIC (Organisation of Islamic Conference) Business Forum was held in Uganda. It was announced that due to the growing increase of Islamic Finance in Africa the National Islamic Bank would be set up in Uganda. Islamic banking refers to a form of banking that is consistent with the principles of Islamic law (Sharia). Under this form of banking it is prohibited to pay or accept specific interest or fees for loans of money known as riba (usury) in Islam..............................................Full Article: Source
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