Tag Archives: COSASE

Kampala, Uganda | THE INDEPENDENT | The Speaker of Parliament Rebecca Kadaga has told off Benedict Sekabira, the Director Financial Markets Development Coordination in Bank of Uganda over his concerns on the central bank probe report. In her communication during plenary on Tuesday afternoon, Kadaga disclosed that she had received …

Kampala, Uganda | THE INDEPENDENT | Mubarak Munyagwa, the Kawempe South Member of Parliament has finally assumed the leadership of the Committee on Commissions, Statutory Authorities and State Enterprises-COSASE. He replaces Abdul Katuntu, the Bugweri County MP who was dropped by the Leader of Opposition late last year. COSASE is …

  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 …

Kampala, Uganda | THE INDEPENDENT | The closure of Crane Bank by Bank of Uganda was illegal. This is according to a report by the committee on Commissions, Statutory Authorities and State Enterprises -COSASE. The report indicated that an analysis of the Bank’s liquidity from 1st January to 24th January …

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 …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda should take full responsibility for any likely loss resulting from the closure of Greenland Bank. This is according to a report by Parliament’s committee on Commissions, Statutory Authorities and State Enterprises (COSASE). Greenland Bank was in 1999 put under liquidation by …

Kampala, Uganda | THE INDEPENDENT | Cooperators under their apex body, Uganda Cooperative Alliance are looking forward to the report by the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to guide their next course of action on the defunct 1964 Cooperative Bank. Led by Ivan Asiimwe, the General Secretary …

Under the spotlight: the law and big money Kampala, Uganda | HAGGAI MATSIKO | After ending its public hearings into Bank of Uganda’s closure of seven commercial banks, attention is shifting to the recommendations the Parliamentary Committee on Commissions, Statutory Authorities, and State Enterprises (COSASE), is set to make. It …

  Kampala, Uganda | THE INDEPENDENT | The authenticity of agreements transferring assets of the 1964 Cooperative Bank to that incorporated in 1997 under the Company’s Act has been questioned. For the past few weeks, the commissions committee of parliament has been probing how the Cooperative Bank in 1997 was …

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. …