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Tag Archives: central bank

Central bank tasked to stop mortgages on public land

Kampala, Uganda | THE INDEPENDENT | The Chairperson of the Commission of Inquiry into Land Matters Justice Catherine Bamugemereire has asked the Central Bank to intervene in the issuance of mortgages on reserve land like forests and wetlands. Bamugemereire’s plea is based on reports that chunks of government land have …

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Katuntu defends COSASE report on closed banks

Kampala, Uganda | THE INDEPENDENT | The former Chairperson of the Committee on Commissions, Statutory Authorities and State Enterprises-COSASE, Abdu Katuntu has defended the Central Bank Probe report. The report was compiled by COSASE following investigations into the closure and subsequent sale of Teefe Trust Bank, International Credit Bank Ltd, Greenland …

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MPs punch holes in COSASE bank probe report

Kampala, Uganda | THE INDEPENDENT | Legislators have punched holes in the recommendations in the Central Bank Probe report, describing them as wanting. The recommendations are part of the report compiled by the Committee on Commissions, Statutory Authorities and State Enterprises- COSASE following investigations into the closure of seven commercial banks …

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COSASE report pins Sekabira, Bagyenda on defunct bank loan portfolios

Kampala, Uganda | THE INDEPENDENT | Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has recommended that Central Bank officials involved in the sale of loan portfolios for five defunct banks be held personally liable. The banks include International Credit Bank, Greenland Bank, Cooperative Bank, Global Trust Bank …

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Probe into Cooperative bank closure takes twist

Kampala, Uganda | THE INDEPENDENT | The probe into the closure of Cooperative Bank took a twist after the committee investigating the irregular sale of commercial banks resolved to summon the Auditor General John Muwanga to clarify on allegations that there were two cooperative banks. This was after shareholders of …

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Greenland bank shareholders demand accountability of assets

Kampala, Uganda | THE INDEPENDENT | A section of former shareholders of Greenland Bank have demanded that the Central Bank accounts for the entire period the institution has been under liquidation. The bank was in 1999 put under liquidation by the Central Bank which could later on 5th December 1998 take …

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Opposition welcomes EALA Bill on common currency

Kampala, Uganda | THE INDEPENDENT | The Opposition in Parliament has welcomed the passing of the East African Monetary Institute Bill 2017, which will pave way for a single currency in East Africa. The East African Monetary Institute Bill sought to set up the agency to perform the role of a …

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COMMENT: Central bank under attack

Central-bank independence is often fetishised but a central bank without political support suffers  COMMENT | Eswar Prasad | Indian Prime Minister Narendra Modi’s government has launched an all-out political assault on the Reserve Bank of India, and the barrage of criticism is already taking a toll on the institution.This is …

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