Experts say financial institutions to prefer extending short term loans. New accounting standard will make loans, insurance more expensive Kampala, Uganda | ISSAC KHISA | Uganda’s banking and insurance industries are envisaging good times ahead as they embrace the new global accounting standards effective this year. The bad news is that borrowers …
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The new banking model is expected to deepen financial inclusion Kampala, Uganda | ISAAC KHISA | Uganda’s commercial banks have started rolling out agent banking following Kenya and Rwanda’s footsteps in an effort to grow deposits and customer base. This follows the coming into force of the Financial Institutions Act …
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London, United Kingdom | AFP | The British government announced plans Thursday to distribute £330 million ($447 million, 371 million euros) taken from dormant bank accounts to good causes, bringing the total handed out to almost £700 million. The Dormant Accounts Scheme was established in 2008, allowing the reallocation of money …
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COVER Saving Bank of Uganda: Why Kasekende, Bagyenda, Mutebile fight isn’t helpful THE LAST WORD Why our nations remain poor: African elites are victims of their own delusions about distorted history of developed countries. POLITICS Justice Kasule’s decent proposal on elections: Why not have regional Supreme Court to decide petitions? …
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By ignoring poor people’s needs, financial institutions are overlooking a massive potential market COMMENT | REETA ROY | In a sea of gloomy news, one bright headline appears on the horizon. The World Bank’s latest figures on individuals’ bank accounts, to be released early next year, are expected to show that …
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Brussels, Belgium | AFP | The fight for some of the most prized spoils of Brexit comes to a climax on Monday when 27 EU states pick the new host cities for two London-based regulatory agencies. In a process only half-jokingly compared to the Eurovision Song Contest, ministers will vote …
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Kampala, Uganda | ISAAC KHISA | Regional lender, KCB, is set to rollout agency banking by close of the year as it strives to grow profitability. This follows the lender’s approval from the Bank of Uganda, two weeks ago, in line with the new Financial Institutions (amendment) Act. Joram Kiarie, the …
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The role of commercial banks and real estate developers are changing to create affordable housing for Ugandans COMMENT | Jackson Emanzi | Uganda’s population is projected to grow from an estimated 37 million people today to 41.2 million by 2020 (Uganda Bureau of Statistics). Under Goal 11 of the United …
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Khartoum, Sudan | AFP | Sudan’s central bank said Wednesday it had received its first overseas fund transfer in US dollars since Washington announced the lifting of a 20-year-old trade embargo against Khartoum. Washington last week announced the lifting of sanctions from this Thursday onwards, saying Khartoum had made progress on …
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Kampala, Uganda | JULIUS BUSINGE | Bank of Uganda Governor Emmanuel Tumusiime Mutebile, has October 03, announced a reduction in the Central Bank Rate (CBR) by 0.5 percentage points to 9.5% for the next three months. The CBR is the rate of interest which a central bank charges on loans and advances to commercial banks. The …
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The Independent Uganda: You get the Truth we Pay the Price