ADFIMI – UDBL Joint Workshop on “Essentials of Islamic Banking” in Kampala, Uganda
Uganda has recently passed a legislation in order to develop Islamic Finance in the country. They are on the verge of establishing Islamic Banks in Uganda and Uganda Development Bank, an old time member of ADFIMI, wants to organise a joint seminar on Islamic Banking with a view to enlighten bankers, legislators, central bankers, bank regulators, legal bureaus as well as potential users of Islamic Finance.
Islamic banking model is different from the conventional model of banking. Whereas charging of interest is at the heart of conventional banking, in Islamic banking model that is not allowed. Instead it shares the profits or losses that accrue, if any, with the clients.
Islamic banking has gained prominence internationally due to its exponential growth and resilience to financial crises.
This is in addition to the nature of Shari’ah-compliant finance models that focus on the principles of investment in real assets and risk-sharing. The Islamic finance model has thus contributed to the spread of real-asset-based finance principles in many jurisdictions and is regarded as an ideal option for the financing of infrastructure projects.
Uganda is late within East Africa, but possesses the key advantage of Islamic Development Bank (IDB) membership. That will easily turn it into the hub for Islamic banking in East Africa by attracting institutional technical support and long term capital from IDB giving it an edge over non-member countries that legalised Islamic banking in East Africa.
In that context ADFIMI is organising a two day workshop.
The seminar is expected to provide insights in Islamic Banking practice including Islamic contracts, Islamic Modes of Finance, Interest rate benchmarking, formation of Shariah boards, legislative aspects of Islamic Banking, Role of Central Banks, infrastructure necessary for Islamic Banking, HR requirements of Islamic Banking and a glimpse of who is who in Islamic Finance, to bank regulators and establish a platform where by stakeholders will establish networking among themselves.
In order to be considered eligible to apply, you must fulfill all of the following criteria:
- Participants are responsible of making their own visa arrangements through Ugandan Diplomatic Missions in their country. However, UDBL will assist with the visa applications for those who need it.
- Good Command of English Language is necessary
There is NO Registration Fee for participants from ADFIMI Member institutions.
A nominal fee of USD 300 will be applied to participants from non-ADFIMI Member institutions.
- Payment should be affected in full at the time of registration. The fee includes Workshop materials, coffee breaks and lunches (18 – 19 April 2017). Other expenses including travel, accomodation, meals (other than lunches on 18 – 19 April) etc. shall be to the account of the participant.
- Registration will not be confirmed until registration form is signed and payment is received in full otherwise the registration may be subject to cancellation (Partcipants can also pay the fee in cash during registration against a receipt)
- In case of cancellation after 10 April 2017, there will be no refund of paid fees. For cancellation on or before 10 April 2017, the refund fee will be to applicant’s account and the refund will be materialised as soon as practicable after 25 April 2017.
Accommodation and Travel costs will be covered by the participants themselves.
Participants are requested to respond as early as possible, preferably before 24 March 2017 in order to secure a place in the seminar.
All details and general conditions are given in the attached Aide Memoire.
It is highly recommended to fill in the Application form electronically through ONLINE APPLICATION FORM
For additional information contact: [email protected]