Kampala, Uganda | THE INDEPENDENT | The call to operationalize Islamic Banking dominated Eid al Fitr prayers at Kibuli Mosque on Tuesday. Islamic banking is a system based on the Islamic economic guidelines in as far as the Sharia law is concerned. Under this system, the banks make profits through …
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Kampala, Uganda | THE INDEPENDENT | Less than a month after the State House Anti-Corruption Unit swooped on Post Bank over embezzlement of funds, seven of its top employees including the bank’s MD Stephen Mukweli are now facing corruption charges at the Anti-Corruption Court. They were charged with abuse of …
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Govt plans to boost economy by earmarking Shs 600 Billion in the next financial year specifically to capitalize banks and financial institutions COMMENT | Caroline Kainomugisha | When the financial market is characterized by low financial inclusion, high-interest rates and therefore low investments and growth in the economy, one of the …
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Kampala, Uganda | ISAAC KHISA | Pan-African multilateral lender, African Export-Import Bank has released its abridged audited financial statements for the year ended 31 December 2018, showing strong financial and operational performance, with total comprehensive income for the year amounting to $285.4 million. The total comprehensive income reflects a …
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Kampala, Uganda | THE INDEPENDENT | Agriculture might be finally catching financiers’ eye, with money disbursed to farmers topping all other sectors in January, according to official figures. Statistics from the Finance and Economic Development Ministry show that agriculture received 28% (Sh 283bn) of all loans disbursed in January up …
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Kampala, Uganda | THE INDEPENDENT | Equity Bank (U) Ltd and the DYNAMIC (Driving Youth-led Agribusiness and Microenterprise) program in their continued quest for financial inclusion have launched a partnership to bring access to formal financial services closer to the youth through Equity Bank’s agency banking and digital finance model. …
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Kampala, Uganda | THE INDEPENDENT | dfcu bank has partnered with MAC East Africa Limited and Insurance Company of East Africa to launch an asset financing campaign that will see customers purchase the latest Isuzu mu-X 2018 at a special offer price. Officials said on March 05 in Kampala …
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Kampala, Uganda | THE INDEPENDENT | The Minister of Finance, Planning and Economic Development, Matia Kasaija has said the zero interest system in Islamic Banking should attract a good number of Ugandan entrepreneurs. According to Kasaija, Ugandans have been reluctant to borrow from banks due to the high interest rates …
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Kampala, Uganda | ISAAC KHISA | Pan-African lender, United Bank for Africa, has unveiled a full operation in the United Kingdom, opening up trade opportunities between the continent and European nations. This follows authorization of the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) for UBA (UK) Limited …
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Kampala, Uganda | THE INDEPENDENT | The agreement for the sale of Crane bank to DFCU was shoddy and fraudulent, Former Crane Bank owner, Sudhir Ruparelia has told the ongoing Bank of Uganda probe. According to Sudhir, the Purchase of Assets and Liabilities (P&A) agreement signed between BoU and DFCU …
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