Salaam Bank Limited
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Founded Date January 1, 1900
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Sectors Finance
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Posted Jobs 0
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Viewed 23
Company Description
Salaam Bank Limited is the first fully licensed Islamic commercial bank in Uganda, officially authorized by the Bank of Uganda on September 8, 2023. Headquartered at Rwenzori Courts on Nakasero Road in Kampala, the institution is a 100 percent subsidiary of the Djibouti-based Salaam African Bank (SAB). It entered the Ugandan market through the strategic acquisition of Top Finance Bank Limited in August 2022 and subsequently rebranded to its current identity.
Operating strictly under Shari’ah principles, the bank provides ethical financial solutions that prohibit interest (riba) and instead focus on profit and loss sharing. Its core mission is to foster economic empowerment and financial inclusivity for people of all faiths in Uganda. The bank’s leadership is currently headed by CEO Michael Mande, who oversees its transition into a key player in the nation’s growing Islamic finance ecosystem.
The bank offers a diverse range of Sharia-compliant products, including savings, current, and expat accounts, as well as specialized financing modes like Murabahah (markup sale) and Mudarabah (partnership). Customers can also access services such as term deposits, certificates of investment, and Takaful (Islamic insurance) through its partner networks. Beyond traditional banking, Salaam Bank is committed to community growth, frequently engaging in local CSR activities such as food donation drives during Ramadan.