Kampala, Uganda | THE INDEPENDENT | The Central Bank Governor, Prof. Emmanuel Tumusiime Mutebile is expected to appear before the Budget Committee of parliament today to explain their persistent requests for recapitalisation. The central bank has been pushing for recapitalisation for the past three financial years. According to the 202/2021 financial year …
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Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has opposed some provisions in the National Social Security Fund Amendment Bill, 2019 as unfair to other pension sector players. The BoU Deputy Governor, Louis Kasekende disclosed this while leading a delegation officials from the central bank to submit their views on …
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Kampala, Uganda | THE INDEPENDENT | Jaffery Forex Bureau Limited has sued Bank of Uganda seeking compensation of Shillings 9.5 billion for revoking its license illegally. The Forex Bureau has filed its suit in the Civil Division of High Court through Kinobe Mutyaba Advocates. They are challenging the Central Bank …
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Kampala, Uganda | THE INDEPENDENT | The Bugweri County Member of Parliament, Abdul Katuntu, says there is need to address Governance issues in Bank of Uganda-BoU to curb scandals rocking the central bank. Katuntu, who chaired the Committee on Commissions Statutory Authorities and State Enterprise-COSASE, says there is a big …
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Kampala, Uganda | THE INDEPENDENT | Legislators on the Committee on Commissions, Statutory Authorities and State Enterprises- COSASE have summoned Keith Muhakanizi, the Treasury Secretary to explain audit queries raised by the Auditor General against Bank of Uganda (BoU). COSASE Chairperson, Mubarak Munyagwa issued the summons on this afternoon following a …
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Why policy measures that curtail the volume of bank lending to the business community must be avoided COMMENT | LOUIS KASEKENDE | I would like to begin by explaining why I think that a socio-economic impact assessment is a very useful initiative for the bank to have taken. Banks all around …
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Kampala, Uganda | ISAAC KHISA | Regional lender, KCB, is set to rollout agency banking by close of the year as it strives to grow profitability. This follows the lender’s approval from the Bank of Uganda, two weeks ago, in line with the new Financial Institutions (amendment) Act. Joram Kiarie, the …
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By Louis Kasekende The main challenges appear to be structural; with inadequate investment in modern traded goods; sectors like labour intensive manufacturing and low labour productivity Two related issues are integral to the success of Uganda’s medium term National Development Plan and its long term economic prospects. The first issue …
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By Julius Businge Bank of Uganda today (Dec. 3) announced a marginal fall in the central bank rate (CBR) by 50 basis points from 12% in November, 2013 to 11.5% in December. While announcing the new rate before the media, Central Bank Deputy Governor, Louis Kasekende said the reduction was …
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