Tag Archives: BOU

It now joins Stanbic, Stanchart, DFCU, DTB that have also recorded surge in profits in 2016 Uganda’s commercial banks spent almost the entire of last year worried about making money in a rather challenging economic environment that was characterised by high interest rates amidst slow economic activities. But they seemed …

Here is why Ugandans are poorer today than yesterday There is more bad news for the Uganda economy this April. According to the latest figures from the Uganda Bureau of Statistics (UBOS) and the Central Bank, the economy will not achieve the targeted 4.5% growth this financial year. It will …

Property mogul Sudhir Ruparelia is reeling from yet another loss after Bank of Uganda shut down four forex bureaus belonging to him. In a statement BOU issued, the owners of the forex bureaus closed made no effort to renew them after their licenses expired on Dec 31. Two of the …

VIDEO: The Bank of Uganda has warned that the Islamic banking may fail in the country if it is abused by commercial banks. According to Justin Bagenda, the executive Director supervision at Bank of Uganda, the commercial banks that are to embrace the new form of banking need to be aware …

BoU’s Mutebile leads call for export driven policy instead Amelia Kyambadde, the Minister for Trade, Industry and Cooperatives, has had a tough time selling her flagship policy plank, the `Buy Uganda Build Uganda’ (BUBU).   But the latest criticism against the policy came from the most unexpected voice; that of the …

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 …

Other banks say the government needs to urgently pass regulatory framework Stanbic has identified about 1000 agents to deal with as soon as the proposed new agency banking is legalised, according to the Chief Executive Officer of Uganda’s largest bank, Patrick Mweheire. In an interview with The Independent, Mweheire said …

Christine Lagarde says government need to focus on reducing inequality The International Monetary Fund Managing Director Christine Lagarde on Jan. 27 found herself on the defensive as the audience sought for the global fund’s roles on Uganda’s development. This was during a public lecture held at the Kampala Serena Conference …

Lagarde is visiting when the government is desperate for new money but in no mood to listen. Usually that means no deal but possibly not when the IMF and Museveni need each othe. Meetings between teams from IMF and planners of Uganda’s economy, especially President Yoweri Museveni, have historically involved …

Bank of Uganda has confirmed that it has transferred the assets of Crane Bank to DFCU Bank. “In exercise of its powers as Receiver, under Sec 95(1)(b) of FIA, BoU has now transferred the liabilities (incl deposits) of CB to DFCU Bank,” Bank Governor Emmanuel Tumusiime-Mutebile told the press in …