President Museveni Launches Uganda's First Ever Islamic Banking Institution – Plus News
President Yoweri Kaguta Museveni on Wednesday officiated the launch of Salaam Bank, Uganda’s pioneering Islamic banking institution, emphasizing its significance in the country’s financial landscape.
Islamic banking, grounded in Islamic principles, prohibits the payment and receipt of interest, instead focusing on profit-sharing and Sharia-compliant investment tools to generate returns.
The inauguration took place during Ramathan dua prayers convened by the Office of the National Chairman-NRM at Kololo Ceremonial Grounds in Kampala.
President Museveni, extending warm wishes for Ramathan, urged believers to engage in income-generating activities for improved livelihoods.
Addressing the audience, he underscored the importance of various sectors such as commercial agriculture, manufacturing, services, and ICT in poverty alleviation, highlighting government initiatives like Entandikwa, NAADS, Operation Wealth Creation, Emyooga, and the Parish Development Model (PDM) to facilitate access to startup capital.
Acknowledging concerns regarding riba (interest), President Museveni assured the Muslim community of discussions to address any conflicts with Islamic teachings, affirming his commitment to ensuring equitable access to government programs.
Emphasizing the NRM’s stance against discrimination, President Museveni highlighted the party’s inclusive approach, citing Uganda’s re-entry into the Organization of Islamic Cooperation (OIC) during his tenure as an example of promoting diversity.
Welcoming Salaam Bank to Uganda, President Museveni assured support for its operations in the country, acknowledging the potential of the growing market with a current population of 48 million.
Mr. Mahmoud Ali Youssouf, Minister of Foreign Affairs and International Cooperation of Djibouti, conveyed greetings from President Ismaïl Omar Guelleh and commended Salaam Bank’s continental aspirations, citing Uganda’s conducive financial environment.
Expressing gratitude, Hajjat Hadijah Uzeiye Namyalo praised President Museveni’s support for the Muslim community, hailing the establishment of Salaam Bank as a testament to his commitment to economic empowerment.
Speaking on behalf of Muslims, Sheikh Erias Kigozi lauded President Museveni’s leadership, particularly his efforts in securing Muslim property rights and appointing Muslims to key government positions.
In appreciation of President Museveni’s support, Mr. Ibrahim M. Abdirahman, Chairman of Salaam Bank’s Board, highlighted the pivotal role of the President in facilitating the establishment of the bank, marking a significant milestone in Uganda’s economic development journey.
With Salaam Bank granted its license in September 2023, the event marked a historic moment witnessed by Salaam Bank officials, Ugandan government representatives, and religious leaders, among others.
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Kimera Abdul is a Senior Journalist with Plus News Uganda. He identifies as an adaptable and enthusiastic individual who works to inspire generations. He posses a Diploma and Broadcast journalism and has… More by Kimera Abdu
Fred Enanga, the police spokesperson, has officially announced the decision to divest the Uganda Police Airwing of its fixed-wing aircraft (P180 Piaggio Avanti II Evo).
Enanga explained that the decision stems from the aircraft’s failure to yield positive outcomes despite its capability to remain airborne for up to 8 hours, providing aerial support.
“Since its acquisition, it has only flown a total of 117 hours due to limitations such as unsuitability for non-tarmacked runways, costly mandatory inspections, insurance, and maintenance, with no discernible benefits realized,” stated Enanga.
He added, “The UPF is considering the disposal of the Paggio Avanti II Evo and the procurement of a new-generation compatible aircraft through trade-in procurement methods, adhering to PPDA laws and regulations.”
Acquired in June 2019 at a cost of USD 7.84 million, the Airwing currently operates four aircraft, including three helicopters and one fixed-wing aircraft, 5X-PEF/PI80 Piaggio Avanti II Evo-9 seater. During 2023, the Airwing responded to numerous incidents across various regions, making it an integral part of policing in Uganda.
The Uganda Police Airwing provides aerial patrols, search and rescue, rapid response, troop transportation, aerial surveillance, VIP transportation, medevac, and casevac.
Enanga noted that the Minister of Internal Affairs was briefed on the matter and raised no objections to the disposal of the unserviceable aircraft and the procurement of a new compatible helicopter.
“A Composite Board of Survey inspected the aircraft on October 19, 2022, valuing it at USD 4,271,709.06. The valuation considered factors such as depreciated replacement cost, technical condition, blue book values, and current market prices,” Enanga explained.
He emphasized that replacing the fixed-wing aircraft will enhance the Police Airwing’s operational capabilities. Several aircraft types have been evaluated, considering manufacturers and operational requirements specific to the Uganda Police.
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President Yoweri Kaguta Museveni emphasized the importance of acknowledging individuals who contribute to society’s advancement, stressing that their efforts should be remembered and appreciated.
During the Elders Mentorship/Leadership Awards luncheon 2024 held at State House Entebbe on Thursday, President Museveni commended Mr. Odrek Rwabwogo and his team for their initiative in honoring outstanding contributors.
He underscored the significance of recognizing excellence, stating that failing to do so could discourage others from striving for excellence.
Organized by the Office of the Senior Presidential Advisor on Special Duties, chaired by Mr. Odrek Rwabwogo, the ceremony aimed to celebrate individuals who have made significant positive impacts on Uganda’s development. Under the theme “Modelling the right behaviour for the youth of Africa in the 21st Century,” the event honored 16 elders for their remarkable service to the nation.
In addition to acknowledging the awardees, the ceremony served as a platform to pay tribute to the late Rt. Hon. Jacob Oulanyah, former Speaker of Parliament, for his dedication to public service.
President Museveni highlighted the importance of accurate mentorship, stressing the role of understanding society’s dynamics and the significance of science and technology in social progress. He credited the National Resistance Movement (NRM) government’s progress to its ability to diagnose societal issues accurately and provide solutions.
Reflecting on the late Rt. Hon. Jacob Oulanyah’s journey, President Museveni praised his intellectual openness and commitment to national development, noting his transition from the Uganda People’s Congress (UPC) to the NRM.
Vice President H.E Jessica Alupo commended the awardees for their contributions to Uganda’s socio-economic transformation, aligning with President Museveni’s advocacy for youth involvement in Africa’s development.
Delivering a keynote speech, Hon. Tagesse Chafo Dullo, Speaker of the House of People’s Representatives of Ethiopia, extended gratitude to Uganda for its hospitality and emphasized the importance of empowering African youth.
Hon. Norbert Mao, Minister of Justice and Constitutional Affairs, thanked Mr. Odrek Rwabwogo for organizing the event and emphasized the importance of leadership driven by a mission rather than a position.
Mr. Odrek Rwabwogo reiterated the importance of learning from past exemplary leaders and encouraged the youth to uphold integrity and serve their country diligently.
Representing the late Speaker’s family, Hon. Andrew Ojok expressed gratitude to President Museveni for his support and emphasized Oulanyah’s legacy of integrity and reconciliation.
Mr. Nathan Okori, the late Oulanyah’s father, expressed gratitude to the government for honoring his son’s memory.
The event was attended by several dignitaries, including former Prime Ministers, government ministers, and other officials, demonstrating the collective commitment to honoring exemplary service and fostering intergenerational leadership.
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Monica Mbabazi is a celebrated multimedia Ugandan Journalist currently working as a news anchor on Top Radio and BTM Television. She is also a writer with Plus News Uganda. More by Monica Mbabazi
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President Museveni Engages With Rwenzori Bishops Ahead Of Martyrs Day Celebrations – Plus News
On Thursday, President Yoweri Kaguta Museveni met with a delegation of Bishops from the Rwenzori Dioceses at State House, Entebbe.
The meeting, marked by discussions and exchange, focused on the forthcoming Church of Uganda Martyrs Day celebrations scheduled for June 3, 2024.
Led by the Rt. Rev. Bishop Reuben Kisembo, the clerics briefed President Museveni on the progress of the event preparations. Expressing gratitude, Bishop Kisembo, representing the Bishops from the greater Rwenzori sub-region, acknowledged the government of Uganda’s continuous support and partnership with the Church of Uganda.
In response, President Museveni affirmed his commitment to ensuring the success of the celebrations, pledging support to the Church. However, he also urged religious leaders to mobilize believers towards embracing wealth creation initiatives as a means to combat poverty.
Highlighting persistent challenges, President Museveni emphasized the importance of addressing issues such as subsistence farming, land fragmentation due to inheritance practices, and the necessity for proper enterprise selection. He specifically cited the potential for coffee and apple cultivation in regions like Kasese, leveraging favorable terrain and climate conditions.
This year, the Rwenzori cluster is set to host the Uganda Martyrs Day celebrations at the Anglican Martyrs Shrine in Namugongo, under the theme: “United for Sustainable Services and Growth.”
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Kimera Abdul is a Senior Journalist with Plus News Uganda. He identifies as an adaptable and enthusiastic individual who works to inspire generations. He posses a Diploma and Broadcast journalism and has… More by Kimera Abdu