{"id":72359,"date":"2024-04-30T18:40:19","date_gmt":"2024-04-30T18:40:19","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/?p=72359"},"modified":"2024-04-30T17:43:05","modified_gmt":"2024-04-30T17:43:05","slug":"salaam-bank-wins-global-award","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/salaam-bank-wins-global-award","title":{"rendered":"Salaam Bank wins global award"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Six months after it started its operations in Uganda, Salaam Bank Uganda, was crowned as the Best New Islamic Bank in 2023 at the 2024 Islamic Finance News (IFN) Global Awards that were held in Dubai, United Arab Emirates, last week.<\/b><\/p>\n

Salaam Bank Ltd, a subsidiary of Djibouti-based Salaam Group, was the first bank to receive an Islamic Banking licence from the Bank of Uganda (BOU) in September last year and started offering the service.<\/p>\n

The bank, which was officially launched by President Museveni on March 27, offers Islamic banking which, unlike its conventional counterparts, prohibits paying or receiving of interest also known as Riba, but rather it is based on profit sharing. Islamic banks focus on generating returns on investments through investment tools that are \u201cSharia\u201d compliant.<\/p>\n

Salaam Bank Uganda\u2019s chief executive officer, Mr Michael Mande, while receiving the accolade, said winning this award highlights their strong entry into the Ugandan market and its impact in providing Shariah-compliant financial solutions.<\/p>\n

\u201cAs we celebrate this important recognition, let us be mindful of the responsibility entrusted upon us \u2013 the responsibility to lead with integrity, to empower through transparency, and to uplift our communities through impactful initiatives,\u201d he said.<\/p>\n

Relatedly, the bank\u2019s Board Chairman, Mr Ibrahim M Abdirahman, said the institution is committed to providing the best Islamic banking products and services across their areas of operation.<\/p>\n

\u201cOn behalf of the Salaam Group, board of directors, management, and staff of Salaam Bank Uganda, I hereby collectively salute the IFN for a job well done. We are humbled,\u201d he said.<\/p>\n

Other banks recognised during these awards include Standard Chartered Bank, which won the best Islamic Investment category and Saudi Central Bank, which won the category of the best Central bank in promoting Islamic Finance.<\/p>\n

The IFN Awards are recognised as one of the most prestigious awards in the global Islamic finance industry.<\/p>\n

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

Africa-Press – Uganda. Six months after it started its operations in Uganda, Salaam Bank Uganda, was crowned as the Best New Islamic Bank in 2023 at the 2024 Islamic Finance News (IFN) Global Awards that were held in Dubai, United Arab Emirates, last week. Salaam Bank Ltd, a subsidiary of Djibouti-based Salaam Group, was the […]<\/p>\n","protected":false},"author":84,"featured_media":72358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-72359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nSalaam Bank wins global award - Uganda<\/title>\n<meta name=\"description\" content=\"Six months after it started its operations in Uganda, Salaam Bank Uganda, was crowned as the Best New Islamic Bank in ...\" \/>\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\/salaam-bank-wins-global-award\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Salaam Bank wins global award\" \/>\n<meta property=\"og:description\" content=\"Six months after it started its operations in Uganda, Salaam Bank Uganda, was crowned as the Best New Islamic Bank in ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/salaam-bank-wins-global-award\" \/>\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=\"2024-04-30T18:40:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/04\/sm_1714486159.875385.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\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\/salaam-bank-wins-global-award#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/salaam-bank-wins-global-award\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Salaam Bank wins global award\",\"datePublished\":\"2024-04-30T18:40:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/salaam-bank-wins-global-award\"},\"wordCount\":325,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/salaam-bank-wins-global-award#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2024\/04\/sm_1714486159.875385.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/salaam-bank-wins-global-award#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/salaam-bank-wins-global-award\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/salaam-bank-wins-global-award\",\"name\":\"Salaam Bank wins global award - 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