• Source: 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.




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.




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. 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.




Ownership


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




Branch network


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

Head Office, 4th Floor, Rwenzori Courts, Plot 2 - 4A Nakasero Road, Kampala, Uganda. Main Branch




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.




See also



Banking in Uganda
List of banks in Uganda




References






External links


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

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