Salaam Bank Uganda: Difference between revisions
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==History== |
==History== |
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In 2012, the institution was institution was founded and registered on 14 June 2012. It was licensed on 8 September 2014 by the Bank of Uganda, as [[Banking in Uganda|Tier II Credit Institution]] under the name ''Top Finance Bank''.<ref name="5R">{{cite web| url=https://nilepost.co.ug/business/140493/top-finance-bank-uganda-acquired-by-djiboutis-sab |title=Top Finance Bank Uganda acquired by Djibouti's SAB |work=Nile Post Uganda |date=9 August 2022 | author=Samuel Muhimba |access-date=5 February 2024 | location=Kampala, Uganda}}</ref> |
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From inception in 2012, the institution was privately owned by the founders, who trace ancestry to China.[6] In August 2022, Salaam African Bank, a commercial bank based in Djibouti, acquired Top Finance Bank at an undisclosed price. Salaam Bank also maintains subsidiaries in Kenya and maintains a representative office in Ethiopia.[7] |
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==Ownership== |
==Ownership== |
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Revision as of 23:31, 4 February 2024
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| Company type | Private: Subsidiary of Salaam African Bank of Djibouti |
|---|---|
| Founded | 2012 |
| Headquarters | Suite 8, First Floor Total Deluxe House 33 Jinja Road Kampala, Uganda |
Key people | Michael Mande Chief Executive Officer |
| Website | Homepage |
Salaam Ban Uganda, formerly Top Finance Bank Limited (TFBL), is a commercial bank in Uganda. The institution received an Islamic commercial banking licensee, 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 of Salaam Bank Uganda are located at Suite 8, First Floor, Total Deluxe House, 33 Jinja Road, Kampala, Uganda. This is adjacent to the main campus of Victoria University, in the city's central business district.[3] The coordinates of the headquarters of this financial institution are 0°19'15.0"N, 32°35'57.0"E (Latitude:0.320833; Longitude:32.599167).[4]
History
In 2012, the institution was 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.[5]
From inception in 2012, the institution was privately owned by the founders, who trace ancestry to China.[6] In August 2022, Salaam African Bank, a commercial bank based in Djibouti, acquired Top Finance Bank at an undisclosed price. Salaam Bank also maintains subsidiaries in Kenya and maintains a representative office in Ethiopia.[7]
Ownership
From inception in 2012, the institution was privately owned by the founders, who trace ancestry to China.[6] In August 2022, Salaam African Bank, a commercial bank based in Djibouti, acquired Top Finance Bank at an undisclosed price. Salaam Bank also maintains subsidiaries in Kenya and maintains a representative office in Ethiopia.[7]
Branch network
The branch network of TFBL has included the following locations:
- Rwenzori Courts Branch, Plot 2-4A, Nakasero Road, Ground Floor, Rwenzori Courts', Kampala. Main Branch
Governance and management
The Bank is directed by a six-person board of directors, chaired by Mr. Ibrahim M. Abdirahman.[8] Michael Mande, a technology professional, enthusiast and Career banker, serves as the Managing Director and Chief Executive Officer. He leads a team of ten senior managers, responsible for the day-to-day management of the institution's affairs.[9]
See also
References
- ^ CEOMU (11 September 2023). "Salaam Bank, Formerly Top Finance Bank Gets Uganda's First Islamic Banking License". CEO Magazine Uganda (CEOMU). Kampala, Uganda. Retrieved 5 February 2024.
- ^ Uganda Radio Network (9 September 2023). "Salaam bank issued first Islamic banking license in Uganda". The Observer (Uganda). Kampala, Uganda. Retrieved 5 February 2024.
- ^ Salaam Bank Uganda (5 February 2024). "Contact Us". Salaam Bank Uganda. Kampala, Uganda. Retrieved 5 February 2024.
- ^ "Location of the Headquarters of Salaam Bank Uganda" (Map). Google Maps. Retrieved 5 February 2024.
- ^ Samuel Muhimba (9 August 2022). "Top Finance Bank Uganda acquired by Djibouti's SAB". Nile Post Uganda. Kampala, Uganda. Retrieved 5 February 2024.
- ^ Samuel Nabwiiso (18 June 2018). "Uganda: Chinese Finance Group Eyes Uganda Trade". East African Business Week via AllAfrica.com. Kampala, Uganda. Retrieved 10 March 2018.
- ^ Martin Luther Oketch (10 August 2022). "Djibouti-based bank acquires Top Finance". Daily Monitor. Kampala, Uganda. Retrieved 10 August 2022.
- ^ TFBUL (10 March 2018). "Top Finance Bank Limited: Board of Directors". Kampala: Top Finance Bank Limited (TFBUL). Retrieved 10 March 2018.
- ^ TFBUL (10 March 2018). "Top Finance Bank Limited: Board of Directors". Kampala: Top Finance Bank Limited (TFBL). Retrieved 10 March 2018.
External links
- Website of Top Finance Bank Limited
- Uganda: Top Finance Bank Uganda Acquired By Djibouti's SAB As of 9 August
