Salaam Bank Uganda

Salaam Bank Uganda, formerly Top Finance Bank Limited (TFBL), is a commercial bank in Uganda. The institution received an Islamic commercial banking license, on 8 September 2023. The license was personally handed over by the Acting Governor of the Bank of Uganda, Dr Michael Ating-Ego. It is the first commercial bank in the country authorized to operate according to Islamic Shari'ah law.[1][2]

Location

The headquarters and main branch of Salaam Bank Uganda are located on the 4th Floor, Rwenzori Courts, Plot 2 - 4A, Nakasero Road, Kampala, Uganda. This is within the Central Division of the capital city.[3]

History

In 2012, the institution was founded and registered on 14 June 2012. It was licensed on 8 September 2014 by the Bank of Uganda, as Tier II Credit Institution under the name Top Finance Bank.[4] In August 2022 Salaam African Bank (SAB), a commercial bank based in Djibouti, acquired Top Finance Bank at an undisclosed price. SAB also maintains subsidiaries in Kenya and maintains a representative office in Ethiopia.[4]

Ownership

From inception in 2012, the institution was privately owned by the founders, who trace ancestry to China.[5] As of August 2022, Salaam Bank Uganda is a 100 percent subsidiary of Salaam African Bank, of Djibouti.[6][7]

Branch network

The headquarters and main branch network of Salam Bank Uganda are located at:

• 1) Head Office, 4th Floor, Rwenzori Courts, Plot 2 - 4A Nakasero Road, Kampala, Uganda. Main Branch[3]

Governance and management

As of February 2024, Michael Mande, a technology professional, enthusiast and career banker, serves as the Managing Director and Chief Executive Officer. He leads a team of senior managers, responsible for the day-to-day management of the institution's affairs.[8]

See also

• Banking in Uganda
• List of banks in Uganda

External links

• Website of Salaam Bank Uganda
• Uganda: Top Finance Bank Uganda Acquired By Djibouti's SAB As of 9 August 2022.