Monday, May 16, 2022
  • Login
The Investigator News
Advertisement
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    Intelligence Xclusive: Gen. Muhoozi eyes Premier Peter Mayiga for Vice Presidency, Chairman Norbert Mao for Prime Minister

    Intelligence Xclusive: Gen. Muhoozi eyes Premier Peter Mayiga for Vice Presidency, Chairman Norbert Mao for Prime Minister

    Must Read Big Story: Tycoon Patrick Bitature Floors South African Loan Sharks in Fraudulent UDS30M Transaction

    Must Read Big Story: Tycoon Patrick Bitature Floors South African Loan Sharks in Fraudulent UDS30M Transaction

    EC New Home Panic: Ugly Encumbrances emerge on Butabika Land, IGG Strips Self Naked as Ownership gets questioned

    EC New Home Panic: Ugly Encumbrances emerge on Butabika Land, IGG Strips Self Naked as Ownership gets questioned

    Salim Saleh: The General who Rejected to be President but Elected Playing Second Fiddle and diffusing Poverty from Society!

    Salim Saleh: The General who Rejected to be President but Elected Playing Second Fiddle and diffusing Poverty from Society!

    Sunday Flashback: How Suleiman Kiggundu Told-off Brethren over a Noble idea of Starting a Moslems Bank but Hijacked It!

    Sunday Flashback: How Suleiman Kiggundu Told-off Brethren over a Noble idea of Starting a Moslems Bank but Hijacked It!

    Airport Upgrade Scam: MP Ssenyonyi Socially Run Bonkers as UGX1Bn Cosase Bribe Strips MPs barely naked

    Airport Upgrade Scam: MP Ssenyonyi Socially Run Bonkers as UGX1Bn Cosase Bribe Strips MPs barely naked

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

    Hon. Frank Tumwebaze graces PRAU Governing Council Handover Ceremony

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

    Vincent Omoth – Marketing Manager Fresh Dairy (L) hands over 20 classroom desks to Head Teacher Kirinya Catholic School

    Fresh Dairy donates classroom desks to Kirinya Catholic Primary School

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Jumping to the Topmost: Nansana Galaxy Club Currently enjoying the Top Spot of the 2022 ULF top tier Ludo League

    Jumping to the Topmost: Nansana Galaxy Club Currently enjoying the Top Spot of the 2022 ULF top tier Ludo League

    Deservedly Honoured: Hasifah Nassuuna Receives a Standing Ovation on scoring her 100th goal, Setting a historical Record

    Deservedly Honoured: Hasifah Nassuuna Receives a Standing Ovation on scoring her 100th goal, Setting a historical Record

    More Clout: Crested Cranes Welcome Two Professionals, set to face Rwanda, Burundi and Djibouti at Women Championship 

    More Clout: Crested Cranes Welcome Two Professionals, set to face Rwanda, Burundi and Djibouti at Women Championship

    Necessary Rant: Lines Drawn as Struggle to Reclaim National Theatre Management is Launched against the Current Ruins 

    Necessary Rant: Lines Drawn as Struggle to Reclaim National Theatre Management is Launched against the Current Ruins

    Running in Blood: We bring you the full list of Father-Mother-Son-Sister in today’s Uganda Sports World Business

    Running in Blood: We bring you the full list of Father-Mother-Son-Sister in today’s Uganda Sports World Business

    Eddy Kenzo Advises Bebe Cool to Halt his Clamor Campaign against Big Dimes Paid to Visiting Artistes 

    Eddy Kenzo Advises Bebe Cool to Halt his Clamor Campaign against Big Dimes Paid to Visiting Artistes

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    Expert adds Scientific Angle to NCS’s Witchcraft Scandal without Dismissing the Vice as a Big Pass time for Africans

    Expert adds Scientific Angle to NCS’s Witchcraft Scandal without Dismissing the Vice as a Big Pass time for Africans

    Covid-Funds-Theft Records: Top Health Ministry Officials Stuck with UGX52Bn Loot as Districts Jam to Account for Air 

    Covid-Funds-Theft Records: Top Health Ministry Officials Stuck with UGX52Bn Loot as Districts Jam to Account for Air

    National Water and Sewerage Corporation Technical Staff’ Skills Enhanced for Better Service Delivery 

    National Water and Sewerage Corporation Technical Staff’ Skills Enhanced for Better Service Delivery

    The Story: How Nabilah’s Sobbing Husband Ssempala Left a Hole into which Barya Slipped and Filled

    The Story: How Nabilah’s Sobbing Husband Ssempala Left a Hole into which Barya Slipped and Filled

    U`re Hypocrites: Ugandan Socialite Zaituni Kirigwajjo aka Zari Freezes her Appearances on all Uganda Events 

    U`re Hypocrites: Ugandan Socialite Zaituni Kirigwajjo aka Zari Freezes her Appearances on all Uganda Events

    Kudos Guys: NBL Keeps Mum as Mwiiri OBs and MACOS Respond to SOS Call and Raise UGX16M for Sick Shem Ssemambo

    Kudos Guys: NBL Keeps Mum as Mwiiri OBs and MACOS Respond to SOS Call and Raise UGX16M for Sick Shem Ssemambo

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Opinions
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

  • 2021 Uganda Elections
No Result
View All Result
  • Home
  • News
    • All
    • Business
    • Politics
    • Science
    • World
    Intelligence Xclusive: Gen. Muhoozi eyes Premier Peter Mayiga for Vice Presidency, Chairman Norbert Mao for Prime Minister

    Intelligence Xclusive: Gen. Muhoozi eyes Premier Peter Mayiga for Vice Presidency, Chairman Norbert Mao for Prime Minister

    Must Read Big Story: Tycoon Patrick Bitature Floors South African Loan Sharks in Fraudulent UDS30M Transaction

    Must Read Big Story: Tycoon Patrick Bitature Floors South African Loan Sharks in Fraudulent UDS30M Transaction

    EC New Home Panic: Ugly Encumbrances emerge on Butabika Land, IGG Strips Self Naked as Ownership gets questioned

    EC New Home Panic: Ugly Encumbrances emerge on Butabika Land, IGG Strips Self Naked as Ownership gets questioned

    Salim Saleh: The General who Rejected to be President but Elected Playing Second Fiddle and diffusing Poverty from Society!

    Salim Saleh: The General who Rejected to be President but Elected Playing Second Fiddle and diffusing Poverty from Society!

    Sunday Flashback: How Suleiman Kiggundu Told-off Brethren over a Noble idea of Starting a Moslems Bank but Hijacked It!

    Sunday Flashback: How Suleiman Kiggundu Told-off Brethren over a Noble idea of Starting a Moslems Bank but Hijacked It!

    Airport Upgrade Scam: MP Ssenyonyi Socially Run Bonkers as UGX1Bn Cosase Bribe Strips MPs barely naked

    Airport Upgrade Scam: MP Ssenyonyi Socially Run Bonkers as UGX1Bn Cosase Bribe Strips MPs barely naked

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Tech
    • All
    • Apps
    • Gadget
    • Mobile
    • Startup
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    Outgoing PRAU President Cynthia Mpanga (right) hands over the key to new PRAU President Sarah Kagingo as PRAU Patron Min. Frank Tumwebaze looks on

    Hon. Frank Tumwebaze graces PRAU Governing Council Handover Ceremony

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

    Vincent Omoth – Marketing Manager Fresh Dairy (L) hands over 20 classroom desks to Head Teacher Kirinya Catholic School

    Fresh Dairy donates classroom desks to Kirinya Catholic Primary School

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Sports
    Jumping to the Topmost: Nansana Galaxy Club Currently enjoying the Top Spot of the 2022 ULF top tier Ludo League

    Jumping to the Topmost: Nansana Galaxy Club Currently enjoying the Top Spot of the 2022 ULF top tier Ludo League

    Deservedly Honoured: Hasifah Nassuuna Receives a Standing Ovation on scoring her 100th goal, Setting a historical Record

    Deservedly Honoured: Hasifah Nassuuna Receives a Standing Ovation on scoring her 100th goal, Setting a historical Record

    More Clout: Crested Cranes Welcome Two Professionals, set to face Rwanda, Burundi and Djibouti at Women Championship 

    More Clout: Crested Cranes Welcome Two Professionals, set to face Rwanda, Burundi and Djibouti at Women Championship

    Necessary Rant: Lines Drawn as Struggle to Reclaim National Theatre Management is Launched against the Current Ruins 

    Necessary Rant: Lines Drawn as Struggle to Reclaim National Theatre Management is Launched against the Current Ruins

    Running in Blood: We bring you the full list of Father-Mother-Son-Sister in today’s Uganda Sports World Business

    Running in Blood: We bring you the full list of Father-Mother-Son-Sister in today’s Uganda Sports World Business

    Eddy Kenzo Advises Bebe Cool to Halt his Clamor Campaign against Big Dimes Paid to Visiting Artistes 

    Eddy Kenzo Advises Bebe Cool to Halt his Clamor Campaign against Big Dimes Paid to Visiting Artistes

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Travel
    Expert adds Scientific Angle to NCS’s Witchcraft Scandal without Dismissing the Vice as a Big Pass time for Africans

    Expert adds Scientific Angle to NCS’s Witchcraft Scandal without Dismissing the Vice as a Big Pass time for Africans

    Covid-Funds-Theft Records: Top Health Ministry Officials Stuck with UGX52Bn Loot as Districts Jam to Account for Air 

    Covid-Funds-Theft Records: Top Health Ministry Officials Stuck with UGX52Bn Loot as Districts Jam to Account for Air

    National Water and Sewerage Corporation Technical Staff’ Skills Enhanced for Better Service Delivery 

    National Water and Sewerage Corporation Technical Staff’ Skills Enhanced for Better Service Delivery

    The Story: How Nabilah’s Sobbing Husband Ssempala Left a Hole into which Barya Slipped and Filled

    The Story: How Nabilah’s Sobbing Husband Ssempala Left a Hole into which Barya Slipped and Filled

    U`re Hypocrites: Ugandan Socialite Zaituni Kirigwajjo aka Zari Freezes her Appearances on all Uganda Events 

    U`re Hypocrites: Ugandan Socialite Zaituni Kirigwajjo aka Zari Freezes her Appearances on all Uganda Events

    Kudos Guys: NBL Keeps Mum as Mwiiri OBs and MACOS Respond to SOS Call and Raise UGX16M for Sick Shem Ssemambo

    Kudos Guys: NBL Keeps Mum as Mwiiri OBs and MACOS Respond to SOS Call and Raise UGX16M for Sick Shem Ssemambo

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Opinions
    UNBS closes Sunshare factory over failure to comply with Standards

    UNBS closes Sunshare factory over failure to comply with Standards

    UG Pineapple at B&W

    It was Blankets and Pineapple Waragi as SA’s Distruction Boys entertain Kampala

    To Connect the Unconnected with Innovations towards Inclusive Growth

    To Connect the Unconnected with Innovations towards Inclusive Growth

    Cindy Sanyu

    Cindy Sanyu to headline Eastern Megafest

  • 2021 Uganda Elections
No Result
View All Result
The Investigator News
No Result
View All Result

Sunday Flashback: How Suleiman Kiggundu Told-off Brethren over a Noble idea of Starting a Moslems Bank but Hijacked It!

May 1, 2022
inBusiness
Sunday Flashback: How Suleiman Kiggundu Told-off Brethren over a Noble idea of Starting a Moslems Bank but Hijacked It!

Hajji Kaddu Kiberu: One of the pioneers of FIBA, later Greenland Bank (Courtesy Photo)

1.7k
SHARES
2.7k
VIEWS
WhatsappShare on FacebookShare on Twitter

The name Dr Suleiman Kiggundu is heavily stamped on Greenland Bank. So much so that one can hardly believe, if they were to be told that the highly learned Moslem initially dismissed the project idea as a fantasy. 

This was at the time some ordinary but farsighted Muslims first introduced the idea to him. The Investigator is privileged to have finally chanced upon insiders who virtually knows everything about the Greenland empire before it came down crumbling like a pack of cards. One of the insiders wrote to us and we now let him tell the story:

“Hajj SULAIMAN Kiggundu was never the Founder neither the founding Shareholder of First Islamic Bank (FIBA). The main man behind FIBA was Hajj Suleiman Lule. He then owned Sole Electrics (Official owners and sponsors of Sam Ssali rally car) and Bhazma International (the first Private local company to get an export license for Tea and Match; International Ltd.)

The other founding shareholders were; Hajj Ssevviiri, Hajj Kangavve of HAKS, Hajj Jjumba Masagazi, Hajj Mityana, Hajji Kaddu Kiberu, Hajj Kaweesi (Sun International) and Omukooki Hajj Lutta of Peacock Dry cleaners among two others. Those were the initial shareholders of FIBA, the holding Company for Greenland bank [later]. Kiggundu at first completely refused to join the bank as he under looked the above “farmers” as incompetent to start a bank.

Embwa yamala kumuluma najukira nti abasiramu batandikawo bank.(Editor: The writer wants to communicate that Kiggundu’s firing as the governor Bank of Uganda helped him remember of the other `farmers` idea and he rejoined them to grow their bank idea).

Remember, the first branch and head office of Greenland bank was at Kitgum House on Jinja road before the newcomer Kiggundu finally built its home at Kampala Road adjacent to Bank of Uganda. Jokingly speaking, Kiggundu jumped on the Greenland bandwagon from City Square where its original owners had struggled and driven it to.

The wealthy and much experienced banker would talk the originators of the idea into selling to him a big stake in the bank and even renamed it Greenland from First Islamic Bank (FIBA). 

FIBA would later turn into an exclusive coffee processing and export company but without leaving the Greenland empire which included a university, insurance company and UCB,” Our source penned off, just for the record. 

Author Profile

The Investigator News
Uganda's First online News Paper. "More than Just News" Investigative, Informative, without Fear or Favor
Latest entries

Author Archives

  • Business2022.05.10EC New Home Panic: Ugly Encumbrances emerge on Butabika Land, IGG Strips Self Naked as Ownership gets questioned
  • Sports2022.05.05Stanbic Uganda Cup: Sports Club Vipers tipped for a Season Double through a fair Cup Semi-Final Draw
  • Health2022.05.01Expert adds Scientific Angle to NCS’s Witchcraft Scandal without Dismissing the Vice as a Big Pass time for Africans
  • Business2022.05.01Sunday Flashback: How Suleiman Kiggundu Told-off Brethren over a Noble idea of Starting a Moslems Bank but Hijacked It!
Tags: bank of ugandaFIBAGreenland BankKaddu KiberuSulaiman Kiggundu
SendShare699Tweet437

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Terms of Use
  • Privacy & Policy
  • Contact

© 2022 The Investigator News - More Than Just News Without Fear or Favour.

No Result
View All Result

© 2022 The Investigator News - More Than Just News Without Fear or Favour.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In