By Goth Mohamed Goth
The launch ceremony, held at Millennium Park in Kampala, coincided with an Iftar dinner attended by the President of the Republic of Uganda, senior officials, and members of the Ugandan Muslim community leadership.
This new company is part of the Salaam Bank group, which established the country’s first Islamic bank in 2024.
Delivering a speech at the event, President Museveni stated: “Welcome to Uganda, Salaam Bank and Tamini. This country is a growing market, currently home to more than 45 million people, a number expected to reach 100 million by the year 2050. You have introduced these services into the country at a very opportune time.”
Tamini General Insurance will provide insurance services that are fully compliant with Islamic Sharia, focusing on the principles of mutual cooperation, transparency, and joint guarantee.
For his part, the Managing Director of Tamini Insurance Company, Mr. Mohamed Bahdon, indicated that the company will operate based on three core pillars within the Ugandan market: transparent investment, economic development, and community engagement. Bahdon noted that this Sharia-based insurance system will offer accessible opportunities and will reshape the country’s insurance landscape, creating an economic framework aligned with Uganda’s development aspirations outlined in Vision 2040.
Finally, the CEO of the Uganda Insurance Regulatory Authority (IRA), Alhaji Ibrahim Kaddunabbi Lubega, stated that the Takaful system will bring significant transformation to the national economy. He noted that the country’s insurance assets currently stand at approximately 2 trillion Shillings, and he expects this new service to enhance investor confidence.
