Tamini General Insurance has officially been licensed by the Insurance Regulatory Authority of Uganda, marking the entry of Uganda’s first Sharia-compliant general insurance provider into the market.
The company says it will offer insurance products designed in line with Islamic principles, targeting the country’s Muslim community and other Ugandans seeking ethical, interest-free financial solutions.
Speaking during the introduction of the company, Hadijah Namyalo, Head of the Office of the National Chairman (ONC) of the ruling National Resistance Movement, underscored the need to widen insurance coverage in the country.
She noted that Uganda’s insurance penetration rate remains at about one percent, describing it as low compared to regional and global standards.
Namyalo encouraged Ugandans, particularly low-income earners and small business operators, to embrace insurance as a tool for financial security and resilience, adding that Tamini’s model could help attract communities that have previously been hesitant to participate in conventional insurance schemes.
Tamini’s Chief Executive Officer, Muhammad Omar, said the company operates on the Islamic principle of mutual assistance, where policyholders contribute voluntarily to a shared pool that supports members facing loss or misfortune.
He explained that unlike conventional insurance, the model emphasizes risk-sharing rather than risk transfer, and is anchored in transparency, fairness, and community solidarity.
Tamini General Insurance is a subsidiary of the Salam Group, a regional provider of Sharia-compliant financial services across East Africa.
Company officials say the launch represents a significant milestone in expanding access to inclusive financial products while respecting religious values.
The official launch of Tamini General Insurance is scheduled for March 3, 2026, at Millennium Park in Lugogo, Kampala. Organizers expect the event to attract religious leaders, financial sector players, and members of the business community.
English 