KAMPALA – Opportunity Bank Uganda Limited (OBUL), a commercial bank in Uganda on Friday treated the Muslim community to an iftar dinner at their head offices in Kampala.
Mr. Amos Bonna, Chief Relationship Officer at the Bank told the press that they believe in community and social banking and the Muslim community has been very instrumental.
“From the time we started, 28 years ago, we have grown with them and we made it a culture, every year in the month of Ramadan, we always commemorate, invite them and share light moments with them for the hard work, the passion and every good service they have done with us.”
“Today we are here to give a commitment that we are a community-based bank that looks at social lives and improving lives of people are the communities,” he added.
Bonna tipped on business owners who were affected by Covid-19 to run to the bank and secure a very affordable loan with a repayment period of up to 4 years.
“In partnership with the government, we have a small business recovery fund meant to help businesses that were severely affected by Covid-19. We have loans up to shs200 million and we give them at a very modest 10% per annum.”
“If you know that you have a business that was significantly affected by Covid-19, trade, manufacturing, the informal sector, clothing, you are most welcome because this is the best loan you can ever have,” he noted.
About Opportunity Bank
OBUL is a Tier I Financial Institution licensed by the Bank of Uganda, the central bank and national banking regulator. As of September 2019, the financial institution had total assets worth USh132 billion (US$36.3 million), with shareholders’ equity of about USh28 billion (US$7.7 million).
As a credit institution, it was not authorized to offer checking accounts or deal in foreign exchange. The company was however authorized to take in customer deposits and to establish savings accounts.
It was also authorized to make collateralized and non-collateralized loans to savings and non-savings customers. The company later became affiliated with Opportunity International and became a member of their network.
Opportunity International specializes in lending to the poorest of the working poor.
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