OPINION: Why the silence on Islamic Banking?

By Ahmed Wetaka 

During the last iftar dinner in parliament, the former Speaker, Rt. Hon, Rebecca Kadaga pledged to ensure parliament pushes for the start of Islamic banking. She, however, noted during her pursuit of the matter, the government repeatedly claimed that the country didn’t have qualified people in the field of Islamic banking.

 This came as surprise to Muslims since one of the presenters at the dinner was a Ph.D. graduate in Islamic banking. Kadaga tasked Muslims to present a list of candidates with the requisite qualifications in Islamic banking. This pushed Muslims in an overdrive to find suitable and qualified candidates for the job.

Shortly after the dinner, Uganda Muslim Supreme Council-UMSC and Muslim parliamentarians led by Haji Latif Ssengendo Ssebagala generated a list of Muslims with the requisite qualifications in Islamic banking and submitted it to the speaker.  However, since then, the matter has gone silent.  It is hard to tell where the problem is.

Islamic banking is very important for Muslims, the majority of whom are grappling with life since they can’t go for secular loans, which have interest that contravenes the teachings of Islam. I want to appeal to the speaker of Parliament, Hon. Jacob Oulanyah, his deputy, Anita Among, the leader of the Opposition in parliament, the government chief whip, and other legislators to rekindle the push for Islamic banking.

 Muslims need this money for investment and personal development.  It is unfair to deny Muslims financial support that helps them address the day-to-day challenges as other Ugandans access resources for personal development.  

 Ahmed Wetaka is a journalist and practicing Muslim