Kampala, Uganda | THE INDEPENDENT | The closure of Crane Bank by Bank of Uganda was illegal. This is according to a report by the committee on Commissions, Statutory Authorities and State Enterprises -COSASE. The report indicated that an analysis of the Bank’s liquidity from 1st January to 24th January …
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Kampala, Uganda | THE INDEPENDENT | Bank of Uganda disposed of the Cooperative Bank, which started operations in 1997, the Committee on Statutory Authorities and State Enterprises-COSASE, heard on Thursday. Hannington Wasswa, the Director Commercial Banking in Bank of Uganda disclosed this while responding to a query by COSASE Chairperson, …
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Kampala, Uganda | THE INDEPENDENT | A section of former shareholders of Greenland Bank have demanded that the Central Bank accounts for the entire period the institution has been under liquidation. The bank was in 1999 put under liquidation by the Central Bank which could later on 5th December 1998 take …
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Court advises Sudhir and BOU to talk or one of them risks losing the battle Kampala, Uganda | GODFREY SSALI | Head of the Commercial Court Judge David Wangutusi has advised Bank of Uganda (BOU) and businessman Sudhir Ruparelia to explore an amicable settlement of their differences or else one of them will be …
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Court appoints an arbitor in BOU, Sudhir Crane Bank case Kampala, Uganda | GODFREY SSALI | The Commercial Court has appointed city advocate Harriet Magala from Kituuma -Magala and company advocates to mediate in the case between Bank of Uganda and tycoon Sudhir Ruparelia over Crane Bank. Judiciary spokesperson also the …
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Kampala, Uganda | GODFREY SSALI | The Commercial Court has summoned DFCU bank to file a defence within 15 days explaining why it has refused to pay debts that were incurred by the now closed Crane Bank. This follows a suit filed by an advertising company Premier Advertsing and media Ltd …
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Government given 15 days to defend itself in the Ivan ‘Don’ Ssemwanga funeral money court case The High Court in Kampala has given the Attorney General and Bank of Uganda 15 days to file a written defence explaining why they never restrained socialites from the self styled “Rich Gang” from …
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Experts tell Museveni, Mutebile, Muhakanizi President Yoweri Museveni’s unchecked spending and the Ministry of Finance and Bank of Uganda efforts to clean have created a lope-sided economy that is hurting everyone. That is the view of several economists interviewed by The Independent. Dr. Lawrence Bategeka, formerly a researcher at the …
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Bank of Uganda has moved to assure customers that Crane Bank will not collapse in spite of its current challenges. BoU took over the management of Crane Bank on Oct 20 citing under-capitalization. Speaking during the Annual Bankers Dinner in Kampala, BoU Governor Emmanuel Tumusiime-Mutebile (Pictured) said that it was …
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THE LAST WORD: By Andrew M. Mwenda Lesson for Central Bank from the experience of the takeover of Crane Bank This week, the government injected Shs 200 billion into Crane Bank to bolster its liquidity position. This is only 40% of the Shs 500 billion needed to bring the bank …
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The Independent Uganda: You get the Truth we Pay the Price