Uganda issues first Islamic banking licence
In a significant development for Uganda's financial sector, the country's central bank has issued its first Islamic banking licence.
The move comes after Uganda passed legislation in June to accommodate Shariah-compliant finance activities, marking a notable step towards the diversification of the nation's financial services.
The newly issued licence has been granted to Salaam Bank Ltd., a subsidiary of Djibouti-based Salaam African Bank, the Bank of Uganda said in a statement.
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