Salam TV boosts Islamic banking with Salaam Bank partnership

Salam TV and Salaam Bank have united under a Memorandum of Understanding (MOU) to enhance Islamic banking services in Uganda.

As the first licensed Islamic banking institution in the country, Salaam Bank aims to broaden its financial services to meet the diverse needs of Ugandans.

The MoU, signed on March 25, outlines a strategic plan to educate and engage the community about the advantages of Islamic banking.

The partnership will raise awareness about Islamic banking through community engagement initiatives, educational programs on Salam TV, dedicated shows, and targeted advertisements.

Salaam Bank seeks to offer its services to individuals based on financial capabilities rather than religious affiliation, promoting inclusivity and accessibility.

Hajj Karim Kaliisa, managing director of Salam TV and Salam Charity, encouraged Ugandans to leverage Salaam Bank's Islamic banking services.

Mr Michael, Managing Director of Salaam Bank, highlighted Islamic banking's potential to contribute significantly to Uganda's development and financial sector growth.

Salaam Bank will be officially launched on March 27th, 2024, at Kololo Independence Grounds, with the President of Uganda in attendance. The bank's first branch is at Rwenzori Courts, and additional branches are planned across Kampala.

Salaam Bank also aims to introduce mobile banking services and establish bank agents in up-country areas so that they can provide comprehensive access to its facilities.

This partnership between Salam TV and Salaam Bank signifies a crucial step towards financial inclusion and the promotion of Islamic banking practices in Uganda, which will support the country's economic progress.