The Independent Uganda: You get the Truth we Pay the Price
Mbale, Uganda | THE INDEPENDENT | After PostBank (PBU) confirmed that the bank’s internal control mechanism had discovered counterfeit notes worth sh500million in Mbale branch, Uganda Police has arrested implicated staff, and where there were lapses in oversight of the branch operations, the bank has suspended the responsible staff pending conclusion of the investigation.
Initial investigations point to a collusion of the bank’s custodians of cash at Mbale branch.
In a statement, PostBank Uganda restated its committed to maintaining the safety of all customers’ deposits and also said it complies with all regulations as laid out by Bank of Uganda and the Deposit Protection Fund of Uganda. “We re-assure you of our promise to foster your prosperity at every step of your financial journey, the bank said in a statment.
The bank said all the steps that we are taking are in line with the bank’s policies and procedures, and the culprits will be brought to book according to the laws of Uganda.
“This is an isolated incident, and we assure you that all transactions are safe as the bank has in place all the required resources and technology to detect counterfeit, just like it was in this case where we detected this internally before any customer could be impacted.” the bank said in a statement.
“Integrity is critical to us, and because you are the reason we exist, we believe it is important to update you on the progress of the ongoing investigation in the most transparent way.”
PostBank Uganda (PBU) is purposed to foster prosperity for Ugandans. It has since its establishment extended tailored financial services to enable them Grow and Prosper by facilitating their participation in social economic activities that improve their livelihoods.
The Bank is a limited liability company that was incorporated under the Companies Act in 1998 and is owned by the Government of Uganda with 100% shareholding. PostBank Uganda, a fully-fledged commercial bank, boasts of a wide branch network of 58 branches countrywide, and over 3,000 Agents. These are complemented by PostMobile – *263#, PostApp, PostOnline and smart ATMs
