Kampala, Uganda | THE INDEPENDENT | The Financial Intelligence Authority-FIA has downplayed the significance of notices being sent to some customers of commercial banks informing them of the identification requirements when making transactions with their banks. Some customers of some banks have been receiving notifications such as, “Dear Customer, as a …
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Kampala, Uganda | THE INDEPENDENT | Commercial banks approved more money in May compared to April with manufacturers receiving the biggest chunk of the loans than any other the sector, the Ministry of Finance has said in the performance of the economy report for June 2020. According to the report, …
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Kampala, Uganda | THE INDEPENDENT | Bank of Uganda Governor Emmanuel Tumusiime-Mutebile has warned commercial banks that the central bank may be forced to impose limits on interest rates they can charge on loans. Mutebile, who appears to make a U-turn from an earlier position that banks can charge borrowers …
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Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE, has summoned the Central Bank Governor, Prof. Emmanuel Tumusiime Mutebile. Mutebile is supposed to respond to petitions related to closure of commercial banks next week on Thursday. The Constitution gives Parliamentary committees’ quasi powers of …
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Kampala, Uganda | THE INDEPENDENT | Commercial banks in Uganda are looking into how they can beef up the security of their agents due to the risk exposed to them for holding cash. This comes after an incident on 30 June 2019 in Nansana where three guards attached to Tiger …
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Kampala, Uganda | THE INDEPENDENT | The Governor Bank of Uganda – BoU Professor Emmanuel Tumusiime-Mutebile has warned commercial banks against charging high-interest rates to loan applicants. Professor Mutebile made the remarks on Thursday during a meeting with residents of the Rwenzori region at Kalya Courts in Fort Portal. A …
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Kampala, Uganda | THE INDEPENDENT | The Committee on Commissions, Statutory Authorities and State Enterprises-COSASE has questioned a team of lawyers from MMAKS Advocates on conflict of interest. The team from MMAKS Advocates was comprised of Apollo Nelson Makubuya, Timothy Kanyelezi Masembe, Moses Adriko, Mathias Ssekatawa, Ernest Sembatya and Isaac Walukagga. …
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