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Tag Archives: BOU

BOU: Post Bank remains sound despite probe

Kampala, Uganda | THE INDEPENDENT | The Central Bank has allayed fears that the ongoing investigations into the activities of Post Bank Uganda Limited could be unfavourable for customers and clients. A statement issued this evening by the Central Bank indicates that The Bank of Uganda is working very closely …

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Gov’t to capitalize BoU, UDB

Kampala, Uganda | THE INDEPENDENT | Government has allocated 627 Billion Shillings to capitalize seven banks. The banks include Uganda Development Bank (UDB) with 103 billion, Housing Finance Bank 30 billion, Post Bank 4.7 billion, International Development Bank 2 billion, Trade Development Bank 2.5 billion and Africa Development Bank (ADB) …

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Gold importers tasked to classify gold by country of origin

Kampala, Uganda | THE INDEPENDENT | Companies and individuals importing gold for refining in Uganda and re-exportation must classify its origin in an effort to stop the trade in conflict minerals. According to the Central Bank, the order is one of the efforts to understand the source of the country’s …

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BOU governor warns banks against high interest rates

Kampala, Uganda | THE INDEPENDENT | The Governor Bank of Uganda – BoU Professor Emmanuel Tumusiime-Mutebile has warned commercial banks against charging high-interest rates to loan applicants. Professor Mutebile made the remarks on Thursday during a meeting with residents of the Rwenzori region at Kalya Courts in Fort Portal. A …

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KASAIJA: Islamic Banking an opportunity for Ugandans

  Kampala, Uganda | THE INDEPENDENT | The Minister of Finance, Planning and Economic Development, Matia Kasaija has said the zero interest system in Islamic Banking should attract a good number of Ugandan entrepreneurs. According to Kasaija, Ugandans have been reluctant to borrow from banks due to the high interest rates …

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BoU board failed to supervise bank liquidation process -report

  Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has been blamed for failing to supervise management in the process of liquidating financial institutions. In the COSASE report to parliament tabled by the committee Chairperson Abdu Katuntu, the Central Bank Board’s failure to supervise liquidation of the defunct banks …

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