PREPARATION FOR THE INAUGURATION CEREMONY OF LAUNCHING THE ISLAMIC BANK IN KAYUNGA ON 14/11/2023

The Minister for Micro Finance hajji Haruna Kasolo visited the   District in preparation for the inauguration ceremony of launching a 5 Year Strategic District plan for Islamic banking  slated for 25th November 2023.

The President is expected to preside over the function.

In attendance were the District Kadhi and his Deputy, Deputy RDC, CAO, Technical staff, Directors of schools, Business partners,  Investment partners among others.

Hon  Madada outlined the main objective as empowering people financially with low interest rates and no collateral security required.

This approach will help Muslims practice financial inclusion through financial literacy, mindset change, and enterprise selection.

The Deputy National Coordinator Emyooga outlined the guidelines for joining  saccos which include payment of membership fees, saving, and trust.

And the roles of implementing partners including funding UMSC through saccos and products to schools through saccos.

The CAO thanked the Minister for operationalizing the concept of Islamic banking and thanked Muslims for educating their children and chairperson DSC for the equal opportunities given to both Muslims and Christians.

The deputy RDC advised Muslims to embrace Government programs like PDM, Emyooga etc. PDM is a seed to saw not to be eaten.

She said land wrangles in Kayunga are on an increase and advised them to educate the children in affordable schools.

The Hon minister thanked the President for this initiative and called for inclusiveness in Government programs and advised leaders to

rightly guide their followers not to boycot PDM programs calling it riba.

He requested the District khadi to organize projects for imams such that they are empowered and stick to their objectives.

He requested the investment partners to form saccos in all Districts and one umbrella SACCO in Kampala to support all.

He discouraged Muslims from using fellow Muslims to enrich themselves.

The Minister further said the Saccos are for everybody not Muslims alone for as long as you abide by the Islamic laws.  

He Pledged support and instructed the Commercial officer to immediately register the Sacco before 25th November 2023.