Tag Archives: central bank

Kampala, Uganda | THE INDEPENDENT | Uganda’s central bank has recorded a fourfold increase in income, reaching Shs 1.2 trillion for the fiscal year ending June 30, 2024. This significant growth, as detailed in the Bank of Uganda’s Annual Report for FY 2023/24, marks a substantial rise from the Shs 277.8 …

While maintaining the appearance of independence, they often do what governments want COMMENT | ROBERT SKIDELSKY | The United Kingdom’s economic policy is adrift. That was the main conclusion from the House of Lords Economic Affairs Committee’s inquiry into the Bank of England’s failure to predict the worst inflation in 40 …

Abuja, Nigeria | Xinhua | Nigerian President Bola Tinubu late Friday suspended Godwin Emefiele from the governorship of the country’s central bank, ahead of planned reforms in the financial sector. Emefiele served as governor of the Central Bank of Nigeria since June 2014. The move came following an investigation by the …

Johannesburg, SA | Xinhua | The South African Reserve Bank (SARB), the country’s central bank, said it is committed to the fight against money laundering. The SARB made the remarks in a statement on Friday after the Financial Action Task Force, a global money laundering and terrorist financing watchdog, placed South Africa …

Kampala, Uganda | THE INDEPENDENT |  The Deputy Governor Bank of Uganda (BoU), Michael Atingi-Ego has asked parliament for more time to present the institution’s opinion on the proposed amendments to Article 161 of the Constitution regarding the composition of the Central Bank’s board and others. Atingi-Ego together with the BOU …

Kampala, Uganda | THE INDEPENDENT | The Uganda Bankers Association-UBA is petitioning the Central Bank to block the proposed taxation of cash withdrawals from the bank. The proposal has drawn condemnation across sections of the public after the Ministry of Finance Planning and Economic Development wrote to the Governor of the …

Kampala, Uganda |  THE INDEPENDENT |  The Central Bank has noted that the easing of the Covid-19 lockdown has led to economic growth recovery.  In its latest monetary policy statement, the BOU says the easing of the lockdown, the stability of the exchange rate, as well as a feeble improvement in …

Kampala, Uganda | THE INDEPENDENT | The Chairperson of the Commission of Inquiry into Land Matters Justice Catherine Bamugemereire has asked the Central Bank to intervene in the issuance of mortgages on reserve land like forests and wetlands. Bamugemereire’s plea is based on reports that chunks of government land have …

Kampala, Uganda | THE INDEPENDENT | The former Chairperson of the Committee on Commissions, Statutory Authorities and State Enterprises-COSASE, Abdu Katuntu has defended the Central Bank Probe report. The report was compiled by COSASE following investigations into the closure and subsequent sale of Teefe Trust Bank, International Credit Bank Ltd, Greenland …

Kampala, Uganda | THE INDEPENDENT | Legislators have punched holes in the recommendations in the Central Bank Probe report, describing them as wanting. The recommendations are part of the report compiled by the Committee on Commissions, Statutory Authorities and State Enterprises- COSASE following investigations into the closure of seven commercial banks …