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Tag Archives: commercial banks

Banks tighten identification procedures to curb illicit money transfers

Kampala, Uganda | THE INDEPENDENT | The Financial Intelligence Authority-FIA has downplayed the significance of notices being sent to some customers of commercial banks informing them of the identification requirements when making transactions with their banks. Some customers of some banks have been receiving notifications such as, “Dear Customer, as a …

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COSASE summons Mutebile

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE, has summoned the Central Bank Governor, Prof. Emmanuel  Tumusiime Mutebile. Mutebile is supposed to respond to petitions related to closure of commercial banks next week on Thursday. The Constitution gives Parliamentary committees’ quasi powers of …

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Banks seek to boost agents’ security

Kampala, Uganda | THE INDEPENDENT | Commercial banks in Uganda are looking into how they can beef up the security of their agents due to the risk exposed to them for holding cash. This comes after an incident on 30 June 2019 in Nansana where three guards attached to Tiger …

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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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MMAKS advocates lawyers quizzed on conflict of interest

Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has questioned a team of lawyers from MMAKS Advocates on conflict of interest. The team from MMAKS Advocates was comprised of Apollo Nelson Makubuya, Timothy Kanyelezi Masembe, Moses Adriko, Mathias Ssekatawa, Ernest Sembatya and Isaac Walukagga. …

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