Speaker tasks govt to present amendments in Islamic Banking Act
The speaker of Parliament, Anita Among has tasked government to present the amendments in the Islamic banking Act within two weeks to allow the Islamic model of banking implemented in Uganda.
This comes after Bukooli Central MP, Solomon Silwanyi raised a matter of national importance noting that the 10th parliament passed the law on Islamic banking but up to date, it has never been implemented yet it would help to develop Ugandans especially during this period when they are struggling with effects of the COVID-19 lockdown.
The Bugiri municipality MP, Asuman Basalirwa blamed the delay to operationalize the Islamic banking model in Uganda to cabinet, noting that they submitted all the requirements needed by the government as the Muslim Parliamentary caucus.
Meanwhile, the state minister for Industry, David Bahati told parliament that they needed to amend the law since the Bank of Uganda which was given a supervisory role in the law declined to take up the responsibility.
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