Midsocbank
# Midsocbank

Midsocbank (Midsoc), also Midsoc Bank, is a proposed Islamic banking start-up institution in Uganda, the third-largest economy in the East African Community.

## Location

The headquarters of Midsocbank are located at 2D Nakasero Hill Road, in the central business district of Kampala, the capital and largest city of Uganda. The geographical coordinates of the bank's headquarters are: 0°19'31.0"N, 32°34'46.0"E (Latitude:0.325278; Longitude:32.579444).

## Overview

The founders and organizers of Midsoc Bank plan to establish a Sharia-compliant financial institution with the help of deep-pocketed International Islamic banking institutions, who would offer capital, managerial expertise, training and credibility to the new bank. At a later stage, the institution would diversify in other Islamic financing products, including insurance, re-insurance, sukuk, and other Islamic investments.

## Ownership

The proposed ownership of Midsoc Bank is as depicted in the table below:

Proposed Midsoc Bank Stock Ownership :

| Rank | Name of Owner | Percentage Ownership |
| - | - | - |
| 1 | Islamic Development Bank | 33.3 |
| 2 | Strategic Islamic Bank Investor | 33.3 |
| 3 | Local Ugandan Institutions & Individuals | 33.4 |
| | Total | 100.00 |
