The “flexi retirement” scheme launched this year is also making it easier for retirees to earn additional income and thus encouraging them to keep working. Yet another area offering potential is the participation of women in the labour force, where improved conditions for balancing work and family commitments have already sent participation levels sharply higher.
Subsequently, BoU received numerous inquiries from most of the commercial banks in Uganda seeking to offer Islamic financial products through Islamic Banking “windows”. At that time, the Central Bank of Kenya had licensed two Islamic Banks while National Bank of Rwanda had licenced an Islamic Microfinance Institution and Bank of Tanzania had commercial banks offering Islamic Financial Services through windows.