{"id":68368,"date":"2024-03-08T08:07:39","date_gmt":"2024-03-08T08:07:39","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims"},"modified":"2024-03-08T08:31:31","modified_gmt":"2024-03-08T08:31:31","slug":"pdm-money-not-against-islamic-law-museveni-tells-muslims","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims","title":{"rendered":"PDM money not against Islamic law, Museveni tells Muslims"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>President Museveni has guided that Shs100million annually given to each parish under government\u2019s Parish Development Model (PDM) program is free from interests or profits, urging Muslims to use it without fear of contravening the Islamic teachings against Riba.<\/b><\/p>\n

Responding to complaints by Taqwa Islamic Sacco, President Museveni through a Monday letter noted that PDM funds are not loans to the Parish Saccos but a grant.<\/p>\n

The Ugandan leader emphasized that the \u201csmall interest\u201d percentage is not meant to profit from the grant but to keep the program afloat amidst inflation challenges.<\/p>\n

\u201cIn my humble view, there is no Riba [interests] in PDM. Why? This is not a loan by Government to the Parish Sacco, it is a grant [and] once the money is “ours” in the Sacco, we face the problem of inflation [in that] when I buy my favorite mug of coffee at Shs20, 000, this year, I may be unable to buy the same cup next year because of the change of prices,\u201d Museveni explained.<\/p>\n

\u201cTherefore, when the Sacco puts a percentage of let us say 5 per cent on the Shs1million after 24months on the money it gives to one of the Sacco members, it is to maintain the stability of the Shs20,000 being able to buy me the same mug next calendar year, like it did this year,\u201d he added.<\/p>\n

President Museveni further elaborated that \u201csmall interests\u201d on the PDM funds enable Saccos to generate operational funds to buy materials like papers needed for the transactions.<\/p>\n

\u201cIf the parish Sacco managers pay [operational costs] from the Shs1million, the fund will decrease [and] the government will have to add more money,\u201d he viewed.<\/p>\n

Museveni viewed that the Islamic teaching is against the huge and unfair interests levied by money lenders.<\/p>\n

\u201cMoney lenders have been demanding, I hear, 3 per cent per month Riba [interests]. This is 36 per cent per year. This means that if I take Shs1million, after a year, I will pay Shs1,360,000,\u201d he said<\/p>\n

\u201cIn the PDM case, if the percentage is 10, I will pay Shs1,100,000 after two years on our own money at the Parish. Why? Not in order to give anybody or any company profit [but] simply to maintain the value of our money,\u201d he wrote..<\/p>\n

Meanwhile, he extended Shs200 million as support to Taqwa Islamic Sacco.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. President Museveni has guided that Shs100million annually given to each parish under government\u2019s Parish Development Model (PDM) program is free from interests or profits, urging Muslims to use it without fear of contravening the Islamic teachings against Riba. Responding to complaints by Taqwa Islamic Sacco, President Museveni through a Monday letter noted […]<\/p>\n","protected":false},"author":84,"featured_media":68367,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12,258],"tags":[233,240,234],"class_list":["post-68368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","category-to-homepage","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nPDM money not against Islamic law, Museveni tells Muslims - Uganda<\/title>\n<meta name=\"description\" content=\"President Museveni has guided that Shs100million annually given to each parish under government\u2019s Parish Development ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PDM money not against Islamic law, Museveni tells Muslims\" \/>\n<meta property=\"og:description\" content=\"President Museveni has guided that Shs100million annually given to each parish under government\u2019s Parish Development ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-08T08:07:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-08T08:31:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/03\/sm_1709873897.448564.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"PDM money not against Islamic law, Museveni tells Muslims\",\"datePublished\":\"2024-03-08T08:07:39+00:00\",\"dateModified\":\"2024-03-08T08:31:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims\"},\"wordCount\":407,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/03\/sm_1709873897.448564.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/pdm-money-not-against-islamic-law-museveni-tells-muslims\",\"name\":\"PDM money not against Islamic law, Museveni tells Muslims - 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