President Museveni Signs Nine Bills, Establishes Islamic Banking

By Obed Kankiriho August 22, 2023 499 Views

KAMPALA – President Yoweri Kaguta Museveni has signed nine bills into law, including those that introduce Islamic Banking in Uganda.

The bills encompass various areas such as sports, taxation, and financial institutions.

The bills are: National Sports Bill 2023, the stamp Duty ( Amendment Bill )2023, the Foreign exchange ( Amendment) (No.2) bill 2023, the Excise duty (Amendment) (No.2) Bill 2023, the tax procedures code (Amendment) bill 2023 and income tax (Amendment) bill 2023.

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Other Bills are; Income tax (Amendment) ( No.2) bill 2023, Financial institutions (Amendment) bill 2023 and Value Added Tax ( Amendment) ( No.2) bill 2023.

The President’s actions were confirmed in a press release from the presidential Press Unit on August 21, 2023.

Notably, the National Sports Act 2023 has been enacted, marking a significant change after a 59-year wait for updates to the outdated National Council of Sports Act.

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The new law establishes the National Anti-Doping Organisation and grants the National Council of Sports (NCS) authority over public sports facilities, which were previously managed by District Local Governments.

RT Hon Anita Annet Among, the Speaker of the 11th Parliament of Uganda, expressed gratitude for the President’s trust in Parliament and praised the members for their dedicated efforts.