Midsocbank (Midsoc), also Midsoc Bank, is a proposed Islamic banking start-up institution in Uganda, the third-largest economy in the East African Community.[1][2]
| Company type | Private company |
|---|---|
| Industry | Financial services |
| Headquarters | , |
Key people | Haruna Sebaggala Chairman |
| Products | Sharia Loans & Investments |
| Website | www |
Location
editThe headquarters of Midsocbank are located at 2D Nakasero Hill Road, in the central business district of Kampala, the capital and largest city of Uganda.[3] The geographical coordinates of the bank's headquarters are: 0°19'31.0"N, 32°34'46.0"E (Latitude:0.325278; Longitude:32.579444).[4]
Overview
editThe founders and organizers of Midsoc Bank plan to establish a Sharia-compliant financial institution with the help of deep-pocketed International Islamic banking institutions, who would offer capital, managerial expertise, training and credibility to the new bank. At a later stage, the institution would diversify in other Islamic financing products, including insurance, re-insurance, sukuk, and other Islamic investments.[5]
Ownership
editThe proposed ownership of Midsoc Bank is as depicted in the table below:[5]
| Rank | Name of Owner | Percentage Ownership |
|---|---|---|
| 1 | Islamic Development Bank | 33.3 |
| 2 | Strategic Islamic Bank Investor | 33.3 |
| 3 | Local Ugandan Institutions & Individuals | 33.4 |
| Total | 100.00 |
See also
editReferences
edit- ^ Ojambo, Fred (27 March 2018). "Spreading Islamic Banking in Uganda, One Sermon at a Time". New York City: Bloomberg.com. Retrieved 22 March 2019.
- ^ "East Africa Rides The Islamic Finance Train; Uganda Next To Join". Gulf Times. 26 June 2018. Retrieved 22 March 2019.
- ^ Midsocbank (20 July 2018). "Midsocbank: Contact Us". Kampala: Midsocbank. Retrieved 22 March 2019.
- ^ "Location of the Headquarters of Midsocbank, Nakasero Hill, Kampala, Uganda" (Map). Google Maps. Retrieved 20 July 2018.
- ^ a b Midsocbank (20 July 2018). "Midsocbank: About Us". Kampala: Midsocbank. Retrieved 22 March 2019.