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UMSC Majlis SACCO Plan Ready

The Uganda Muslim Supreme Council-UMSC National Management Committee under stewardship of His Eminence Sheikh Abdallah Ibrahim Ssemambo Tamusuza, the Deputy Mufti has embraced the strategic plan of the UMSC based Majlis Saving & Credit Cooperative Organization ( SACCO).
The comprehensive plan was tabled by Mr Wasswa Hassan Kyendo, the designated Manager of the technical team. The other expert members in economics and Islamic Finance and Banking include Mr. Ashiraph Muwayi, Mr. Mubiru Abdul-Karim, Mr. Kalume Abubaker, Mr. Mutooro Isaac, Mr. Musobya Abdullatif, Dr. Muhammed Walugembe and Ms Nassumbwa Hawah.
The plan highlighted the vision, core values, membership, target market, products, revenue generation, public Sensitization, investment, Administration and among others.
“We kindly call for your support and we assure you by Allah’s Grace, within two years, our SACCO will be the best Islamic Financing Model in the country.” Mr Kyendo pledged.
Shortly before the UMSC National Management Committee endorsed the plan, the Deputy Mufti, His Eminence Sheikh Ssemambo on behalf of His Eminence Sheikh Shaban Ramadhan Mubaje the Mufti of Uganda welcomed the initiative and described it as timely.
He implored the technical team to strive as much as possible to be transparent, trustworthy and innovative if they to succeed in this venture. He in urged the management to offer the team all the necessary support to enable them to commence their work.
On his part Hon. Counsel Haj Muhammad Ali Aluma, the UMSC Secretary General, gave the background of the UMSC Majlis SACCO and detailed how his office was abled to source the technical team comprising experts in Islamic Financing and Banking.
“This is a team of Young Muslims who are highly learnt, energetic and have zeal to serve and I strongly believe they will be able to establish for us the first fully fledged Islamic Bank in Uganda,” Hon. Aluma remarked
After deliberations on several ideas and guidance, the management committee agreed to push the proposal through other UMSC Administrative processes leading to its final implementation.

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