ISLAMIC BANKING: ENHANCING FINANCIAL INCLUSION AND BUSINESS LIQUIDY ON SHARED GROUNDS

The framework for Islamic banking was officially established in 2016 when the Ugandan parliament passed amendments to the Financial Institutions Act to allow for Sharia-compliant banking. However, despite the legislative groundwork laid in 2016, practical implementation took several more years seeing participation grow, evidenced by the entry of varying tier institutions like Thiqa Digital Finance in 2019. Mark Arnold Wadulo talks to the CEO, Thiqa Digital finance Danielle Lavan on Islamic banking in Uganda.