BARS, LODGES, PORK BUSINESSES NOT ELIGIBLE FOR ISLAMIC BANKING LOANS

Wilber Muhwezi and Nuwagaba Felix

In Bushenyi—

Bar owners and people who venture in lodge business will not benefit from the Islamic loan scheme.

This was revealed by the General Manager of Ishaka Farmers Sacco Naboth Kajungu at the official launch of partnership with microfinance support center in Islamic Banking for greater Bushenyi.

He said the pilot project will consume 660 million shillings. The money will be channeled through Ishaka farmers sacco as a lead agency.

Commedian Bishansha performing at the function.

The beneficiaries of the loan will not put interest in the money borrowed from the sacco a move many people applauded.

“Ishaka farmers sacco will soon start giving out these loans” Kajungu said

Kajungu further noted that giving out loans without interest rates will increase House hold Income in Greater Bushenyi.

Singer Sister Charity Performing at the function

According Kajungu, Ishaka farmers has grown and as many different services like pay way that’s where you pay water, Electricity, mobile money and other services.

He noted that the sacco has more than 13000 members in its six branches of; Ishaka, Kibasi, Rwimi  Ndekye, Katerera and Ntara. He added that the sacco has a loan portfolio of over 5 billion shillings.

www.mknewslink.com

wmuhwezi75@mail.com

 

You May Also Like