Tag Archives: bank of uganda

Kampala, Uganda | THE INDEPENDENT | Uganda Law Society-ULS has rejected a proposal in the National Social Security Fund Amendment Bill, 2019 to allow the fund to lend money directly to government. The Bill seeks to among others amend the NSSF Act, 1985 to provide that the Board of Directors …

Kampala, Uganda | THE INDEPENDENT | The government has increased the deposit insurance limit from the current 3 million to 10 million shillings. This is the amount of money that is put aside to cater for misfortunes like the closure of a bank, as a guarantee that depositors can be …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has issued stringent guidelines on the operations of staff in currency centres. In a letter dated September 2, 2019, BoU acting director of the currency directorate Dr Bazinzi Natamba said the guidelines are intended to mitigate risks and strengthen controls at …

  Kampala, Uganda | THE INDEPENDENT | The High Court Commercial Division has dismissed the  Crane Bank (in Receivership) suit against Sudhir Ruparelia and Meera Investments, with Justice David Wangutusi ruling that they have no legal basis to sue. The judge dismissed the suit on Monday over lack of legal basis …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has forecast a likely rise in prices of goods and services in the months towards the general elections. According to BoU Governor Emmanuel Tumusiime-Mutebile, core inflation, which measures the increases in prices of goods and services less electricity, food and water, will peak …

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda governor Emmanuel Tumusiime-Mutebile has decried the tardiness in hitting key targets to achieve a single currency for the East African Community bloc by 2024. The East African Monetary Union Protocol, signed in 2013, set 2024 as the year to have all …

Kampala, Uganda | THE INDEPENDENT | Uganda’s capacity to manage its growing public debt will depend on the country’s ability to export oil by 2023, a Bank of Uganda June 2019 State of the Economy report has shown. In the report, the Central Bank indicates that Uganda’s public debt stock will …

Kampala, Uganda | THE INDEPENDENT | The Director Forensics at Auditor General’s Office James Bantu has commissioned an audit in regards to the Bank of Uganda extra cargo that was loaded on a chartered plane in April this year. It is alleged that around March 1st and April 27th, 2019 …

Kampala, Uganda | THE INDEPENDENT | The Speaker of Parliament, Rebecca Kadaga has directed the Committee on Commissions, Statutory Authorities and State Enterprises – COSASE to conduct proceedings on issues that were not concluded as pertains matters on the closure of seven commercial banks by Bank of Uganda. The seven …

Kampala, Uganda | THE INDEPENDENT | Jaffery Forex Bureau Limited has sued Bank of Uganda seeking compensation of Shillings 9.5 billion for revoking its license illegally. The Forex Bureau has filed its suit in the Civil Division of High Court through Kinobe Mutyaba Advocates. They are challenging the Central Bank …