Tag Archives: bank of uganda

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has withdrawn from the case in which Diamond Trust Bank (DTB) seeks to overturn a high court ruling which faulted Diamond Trust Bank-Uganda for collecting debts on behalf of its parent company DTB-Kenya. The judgement stemmed from a case filed by …

Kampala, Uganda | THE INDEPENDENT | Henry Musasizi, the chairperson of Finance Committee of Parliament is suspicious that the government could be siphoning funds meant for the recapitalization of the Central Bank. He disclosed his suspicions during a meeting between legislators on the Budget committee, officials from the Ministry of Finance …

Kampala, Uganda |  THE INDEPENDENT | Last year Parliament approved loans to the tune of 18.69 trillion Shillings, according to the report detailing the business transacted by the House in the year 2020.    The approved loans are up from the 6.15 trillion Shillings that legislators approved in 2019.  According to the …

Kampala, Uganda |  THE INDEPENDENT |  Banking institutions have since April restructured loans with clients worth 6.7 Trillion Shillings after repayments were affected by the Covid-19 pandemic. Bank of Uganda in April 2020 granted permission to all banking institutions to provide credit relief through the restructuring of loans of both corporate …

Kampala, Uganda | THE INDEPENDENT | A Bank of Uganda report has revealed that commercial banks recorded profits to a tune of 874 Billion Shillings between March and September 2020. This is despite the Covid-19 pandemic that led to the closure of many businesses after the country went into lockdown. According …

Kampala, Uganda |  THE INDEPENDENT |  A section of Members of Parliament have criticized the government for turning a deaf ear to the plight of businesses that are collapsing as a result of bank loans. The MPs led by the Kampala Central MP Mohammed Nsereko point out that businesses have been …

Kampala, Uganda |  THE INDEPENDENT | The Central Bank has rejected the Government’s plan to borrow up to 4.3 trillion Shillings from the domestic market to fund the supplementary budget expenditure of 6.5 trillion Shillings.  The matter came up when officials from BoU, the Private Sector Foundation and Uganda Bankers Association …

Kampala, Uganda |  THE INDEPENDENT |  The Court of Appeal will make a judgment on Monday, November 2 to determine whether Diamond Trust Bank, DTB, refunds an equivalent of Sh120 billion shillings to businessman Hamis Kiggundu. The ruling will also shed more light as to whether the loans Kiggundu took …

Kampala, Uganda | THE INDEPENDENT | The Commercial Court judgment against Diamond Trust Bank-DTB will have wider repercussions across the entire economy in terms of the cost of credit. On Wednesday, the Head of the Commercial Court, Justice Henry Peter Adonyo ruled that the credit facilities DTB-Kenya offered to local businessman, …

Arua, Uganda | THE INDEPENDENT | Ayivui health center III in Arua city has received a newly refurbished maternity ward and medical equipment valued at over Shillings 100 million. The ward was renovated and equipped by the Bank of Uganda under its social corporate responsibility to promote professional health care services …