Company type | Private company |
---|---|
Industry | Financial services |
Headquarters | , |
Key people | Haruna Sebaggala Chairman |
Products | Sharia Loans & Investments |
Website |
www |
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]
The 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]
The 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]
The 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 |
Company type | Private company |
---|---|
Industry | Financial services |
Headquarters | , |
Key people | Haruna Sebaggala Chairman |
Products | Sharia Loans & Investments |
Website |
www |
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]
The 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]
The 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]
The 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 |