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Churches should start Interest-free banks

Guest Writer

Churches should start Interest-free banks

Pastor Aloysious Bugingo



I was astonished to learn from Pastor Bugingo that in just one night he was able to collect from the worshipers in his House of Prayer Ministries UGX211 million.

Bugingo’s Church is still smaller than many thats why I am sure the big Churches like that of Pastor Sserwadda collected in billions seeing that worshipers even paid gate collection at Ugx 3000/=

I have been told that Bugingo’s church does not solicit for money, that its only worshipers who wish to pay that pay anything. Most churches collect 1. Tithe of 10%, 2. Ensigo (Seed faith offering) and 3. Gate collections which range between 2,000-5,000/= from their followers.

Bugingo Church was able to collect 13 million in coins which means these 13m came from the poor.

Now my suggestion is simple, wouldn’t it be prudent that  Churches start banks for their followers to run on the principals of Islamic Banking where they would not charge their members interest since no body taxes their income.

I suggest that these Churches begin thinking along these lines, to help their followers out of poverty so they can make even more money.

The writer is a resident of  Kampala

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