Tag Archives: BOU

Kampala, Uganda | THE INDEPENDENT |  The government has finalized the second National Financial Inclusion Strategy, aimed at increasing access to financial services. The strategy due for launch on Thursday will cover the period 2023 to 2028, succeeding the first one that was launched in 2017. According to Mackay Aomu, Director, …

Kampala, Uganda | THE INDEPENDENT | Top national economic statistics generating agencies have come together to form a single platform that would ensure accurate and more acceptable indicators. Apart from the Uganda Bureau of Statistics (UBOS), the other major producers of national statistics are the Bank of Uganda (BOU) and …

Kampala, Uganda | THE INDEPENDENT | The acting Governor Bank of Uganda (BOU) Michael Atingi-Ego has urged savers in the country to always entrust their savings to regulated financial institutions only. “The only way to preserve and grow the value of your money is to earn a return greater than inflation. …

Kampala, Uganda | THE INDEPENDENT |  The Ugandan banking sector registered a growth of 8.4 percent in assets over the last financial year leveraging the high inflation that saw private sector borrowing slow down. The resilience of the sector also came amidst weak economic growth prospects and elevated geopolitical tensions …

Kampala, Uganda | THE INDEPENDENT |  Bank of Uganda has backed customers who have recently taken to the public to voice their concerns after finding money missing from their bank accounts. This, the regulator says, compels the responsible financial institution to act swiftly to address the matter. BOU head of …

Kampala, Uganda | THE INDEPENDENT | Commercial bank customers can now opt to pay their outstanding loan balances earlier than scheduled, without fear of being charged for the early clearance. This follows the decision made by the Regulated Financial Institutions under the Uganda Bankers Association (UBA) last month and communicated …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has accused financial technology companies, and fintechs, of refusing to apply for licenses. BOU started implementing the regulatory framework for fintechs last year and started implementing the National Payments Systems Act which provides for the regulation of the small financial …

  Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has decided to maintain the Central Bank Rate (CBR) at a high 9.5 percent despite further drops in inflation rates in the month of September. The CBR is a tool that the central bank uses to direct the cost …

Kampala, Uganda | THE INDEPENDENT | Salaam Bank Uganda Ltd has become the first commercial bank to acquire a license to offer Islamic banking services in Uganda. Salaam Bank is a Ugandan subsidiary of Salaam African Bank of Djibouti, through Top Finance Bank which it acquired in August last year. Salaam …

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda is due to launch new measures to enhance the security of online and mobile transactions as the financial technology industry grows. The financial sector is enjoying much faster growth than in years prior to the last decade boosted by digital innovations, …