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Tag Archives: Banking

URA, UBA launches new online payment solution

Uganda Revenue Authority (URA) and United Bank of Africa (UBA) have launched tax payments through online and point of sale –POS (card swiping) methods, powered by VISA and MasterCard. Speaking at the launch of the service at URA’s headquarters in Nakawa on Tuesday March 28, URA’s Commissioner General Doris Akol …

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UK banks ‘handled’ $740 mn in laundered Russian money

London, United Kingdom | AFP | Several British banks processed nearly $740 million in a multi-billion dollar Russian money-laundering scam, The Guardian newspaper said on Monday. According to documents obtained by the Organized Crime and Corruption Reporting Project, at least $20 billion was moved out of Russia between 2010 and 2014 …

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BUSINESS: Declining interest rates

Bank managers explain recent cuts to 20% average   Effective this month most commercial banks started charging lower interest rates on flexible existing and new loans with analysis indicating about 20% is the new average industry rate compared to around 23% a period before. The move is expected to boost uptake …

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VIDEO: Barclays Bank to prioritize investments

VIDEO: As commercial banks continue reducing interest rates, expectations are high among Bankers that the economy will pick up. Barclays Bank managing Director Rakesh Jha says the reductions will increase credit growth. Barclays will remain strategic in its investments to ensure that it is not overwhelmed by bad loans. Share on: …

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US acting as global policeman for financial crimes

Washington, United States | AFP | Handing out multibillion-dollar fines right and left to domestic and foreign financial giants, the United States has taken on the role of the unforgiving global cop of the business world. In stark contrast to the relative inertia of white-collar law enforcement in Europe, Washington …

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VIDEO: Why Central Bank has lowered Uganda’s CBR

VIDEO: The Central Bank has once again eased the Central Borrowing Rate by one percentage point to 12 percent. According to Professor Emmanuel Mutebile, the Central Bank governor, the reduction is aimed at keeping the domestic economic growth momentum and inflation in check. Inflation has slightly picked up in the past …

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Royal Bank of Scotland fails BoE stress test

London, United Kingdom | AFP |  The Royal Bank of Scotland is the worst prepared among Britain’s lenders for another financial crisis, the Bank of England said Wednesday, forcing the state-rescued lender into a new capital-raising plan. The BoE, revealing its latest stress tests on Britain’s top seven banks, added …

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