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Tag Archives: banks

Mixed Fortunes As Banks Release 2017 Financials

Kampala, Uganda | THE INDEPENDENT | Commercial banks have recorded a mixed bag of fortunes over the last one year, according to financial reports released today. The financial results released today show a decline in profits for some banks and microfinance deposit-taking institutions and losses for others. Banks that reported losses …

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Banks launch shared agent banking system (SABS)

Kampala, Uganda | THE INDEPENDENT | The Uganda Bankers Association has launched the Shared Agent Banking System (SABS) in an effort to increase financial inclusion and enable spread and penetration of banking services in Uganda. Agent banking is an extension of banking services outside the conventional bank branches, where a …

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Banks court small borrowers

Centenary becomes third bank to unveil micro-loans to customers via mobile phones Kampala, Uganda | ISAAC KHISA | Despite talk that micro-loans may not create a big impact on the economy, the scramble for a share of the small loans business by Uganda’s banking industry continues to gain momentum. Centenary Bank …

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THIS WEEK: Banks sue URA over customer data

THIS WEEK: Banks sue URA over customer data Kampala, Uganda | THE INDEPENDENT | Banks under their umbrella body, Uganda Bankers Association have dragged Uganda Revenue Authority (URA) to court over a directive by the tax revenue collection body to banks to submit information of their customers including account name, Tax …

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Cabinet gives URA go-ahead on dubious account holders

Kampala, Uganda | THE INDEPENDENT | Government has asked Uganda Revenue Authority (URA) to drop a recent directive for banks to release to them account details of all their clients. Uganda’s cabinet decided on Monday that the URA move “would cause unnecessary litigation and some turbulence in the banking sector and …

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Why Ugandan bankers are heading to court to battle URA

  Kampala, Uganda | THE INDEPENDENT |  The Uganda Bankers Association (UBA) is challenging a directive to its members requiring them to furnish information related to all the accounts they hold. Uganda Revenue Authority (URA) last month wrote to all Ugandan banking institutions asking them to release demographic and financial …

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COMMENT: Socio-economic impact of banks

Why policy measures that curtail the volume of bank lending to the business community must be avoided COMMENT | LOUIS KASEKENDE | I would like to begin by explaining why I think that a socio-economic impact assessment is a very useful initiative for the bank to have taken. Banks all around …

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Eight banks cleared by IRA to sell insurance policies

Kampala, Uganda | JULIUS BUSINGE | The Insurance Regulatory Authority (IRA) has so far issued eight certificates to banks to offer bancassurance (selling insurance policies) to their clients as one way of boosting the sector’s growth. Speaking at a press conference in Kampala on Feb.08, IRA officials including the Chief Executive …

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