AlHuda Centre of Islamic Banking and Economics (CIBE) is set to enter into partnership with Uganda Technology and Management University (UTAMU) aimed at building capacity in banking and finance in Uganda. This was disclosed by a spokesperson of AlHuda CIBE here on Wednesday.
According to the Director of Engagement, Research and Innovation, Associate Professor Dr Florence Tushabe, UTAMU, the partnership will see the Islamic banking institution start operations in Uganda that will come in 2015. She further added that UTAMU would promote all events, trainings and conferences through conducting workshops, seminars and other programs in Uganda.
Imran Gul Khan, Head Senior Management, AlHuda CIBE, said the collaboration would include creating awareness, building capacity for banks staff training in the field of Islamic banking and finance. He said the first training would kick off by the end of January 2015. "Muslims are now becoming more concerned with what is compliant with their faith and this cross into their day-to-day financial dealings. As Uganda has a Muslim population of nearly four million, or 12 percent of its total population of 33 million, there is a dire need to open up new horizons for Islamic banking and finance in Uganda," he added.
Ahmad Abdullah, the country head of AlHuda CIBE Uganda, said the initiation of AlHuda CIBE set-up in Uganda would improve Islamic banking in the country. He also said there was an enormous demand of Islamic banking and finance in Uganda. Moreover, the central bank of Uganda spreads red carpet for Islamic banking in the country, he added. Zubair Mughal, CEO, AlHuda CIBE, said they were entering into Uganda market with a long term work plan.
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