President Museveni guides Muslim leaders on PDM interest rate as he supports Islamic SACCO with Shs20 million
President Yoweri Kaguta Museveni has re-appealed to Muslim leaders to sensitize believers to embrace the Parish Development Model (PDM), explaining that the government poverty alleviation programs do not go against the Islamic teachings of riba (interest).
In a letter dated 4th March, 2024 to Ms. Hafwa Nalumansi Ssettala of Taqwa Islamic Sacco, Mukono, President Museveni said PDM is a sustainable model aimed at improving household income and livelihoods.
President Museveni reiterated that the Parish Development Model (PDM) is in line with Islamic teachings and does not promote interest (riba) which is forbidden in Islam. He urged Muslim leaders to educate their followers on the benefits of the PDM and how it can uplift their communities.
The President also pledged his support to the Islamic SACCO by providing Shs20 million to boost their activities and empower more members to access financial services. This gesture demonstrates the government’s commitment to working with all religious groups to promote economic development and alleviate poverty in Uganda.
Islamic finance principles prohibit the payment or receipt of interest, as it is considered exploitative and detrimental to society. Instead, Islamic financial institutions operate on the basis of profit-sharing, risk-sharing, and ethical investment practices. The Parish Development Model aligns with these principles by focusing on community-driven development, empowerment, and sustainable economic growth.
By encouraging Muslim leaders to promote the PDM among their followers, President Museveni is fostering inclusivity and collaboration in the government’s poverty alleviation efforts. This partnership between the government and religious institutions highlights the importance of collective action in creating positive change and improving the well-being of all Ugandan citizens.
How will this affect me?
As a member of the Muslim community in Uganda, the guidance provided by President Museveni on the Parish Development Model is significant. It allows me to understand how initiatives like the PDM can align with Islamic principles and contribute to sustainable development without compromising my religious beliefs. This collaboration between the government and Islamic leaders opens up opportunities for me to access financial services and support to improve my livelihood.
How will this affect the world?
The support and guidance offered by President Museveni to Muslim leaders on the Parish Development Model set a positive example for other countries facing similar challenges of poverty and economic inequality. By promoting inclusive and collaborative approaches to development, Uganda is showcasing how governments can work with religious institutions to create impactful change at a grassroots level. This initiative has the potential to inspire other nations to explore innovative solutions that respect cultural and religious values while addressing pressing socio-economic issues.
Conclusion
President Museveni’s efforts to engage with Muslim leaders and support initiatives like the Islamic SACCO through the Parish Development Model demonstrate a commitment to holistic and inclusive development in Uganda. By fostering partnerships between the government and religious groups, he is paving the way for sustainable growth, poverty alleviation, and community empowerment. The guidance provided by President Museveni not only benefits the Muslim community in Uganda but also sets a positive example for global efforts to address poverty and financial inclusion in alignment with cultural and religious values.
