The head (titular) of Muslims in Uganda Prince Kassim Nakibinge has called upon the speaker of Parliament Rebecca Kadaga to find out why the Bill on Islamic Banking has not been passed for over 8 years now.

Nakibinge he was speaking as a guest of honour at the Iftar dinner for Muslim leaders to break their Ramadhan fast organized by Kadaga at Parliament last Thursday.

The MPs have passed so many bills, most of them unnecessary to the people of Uganda, but the the bill on Islamic Banking is shelved. The Speaker of parliament Rebecca Kadaga is still silent on the issue of when she plans to organize parliament to pass the bill on Islamic Banking.

Islamic banking is defined as banking activity that is consistent with the principles of the Islamic law (Sharia) and its practical application through the development of Islamic economics. The basic principle of Islamic banking is based on risk-sharing which is a component of trade rather than risk-transfer. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for money loans.

But lack of skilled workers is a challenge that makes parliament and Uganda as a whole to implement Islamic banking.

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