Bank of Uganda denies complicity in $15m theft
The Bank of Uganda (BoU) has refuted reports that IT systems were hacked, following a multimillion-dollar scam that diverted money to bank accounts in the United Kingdom…
Topic
Bank of Uganda
BoU to review StanChart’s exit plan from Uganda
The Bank of Uganda (BoU) is set to assess a proposal from Standard Chartered Bank Uganda regarding the sale of its wealth management and retail banking operations in…
Relief as Gov’t sets interest rates for money lenders
In a bold move aimed at tightening the noose on unscrupulous money lenders, the Government has published Legal Instrument 21 of 2024, which caps interest rates on loans…
Uganda gets positive IMF growth projection
The International Monetary Fund (IMF) has painted a positive picture of Uganda’s economic growth prospects, posting a 5.9% growth projection, according to the latest…
BoU slashes key rate to 9.75% from 10.25%
The Monetary Policy Committee (MPC) of the Bank of Uganda has announced a significant reduction in the Central Bank Rate (CBR), lowering it by 25 basis points to 9.75%.
Bank loans grew by 6.8% in 2024, says BoU
Commercial bank lending activities in Uganda have shown a robust increase, growing by 6.8% in the financial year ending June 2024, according to the Bank of Uganda.
IMF cautions Ugandan banks over treasury bonds
In a new report, the International Monetary Fund (IMF) has warned commercial banks against overreliance on Government securities saying it raises serious financial…
Optimism as Central Bank cuts key rate to 10%
The Bank of Uganda (BoU) has slashed the Central Bank Rate (CBR) by 25 basis points to 10%, a development that experts say would have significant implications for the…
Mixed reactions as Bank of Uganda goes for gold
The Bank of Uganda (BoU) says it is set to start buying gold from the local market, amid concern over the ramifications on the economy given the country’s unregulated or…
Consolidate cross-border collaboration, regional bankers told
Stakeholders in the banking industry in the East African Region have been urged to find ways of working together more closely in a bid to strengthen their regional…
Why BoU closed Mercantile Credit Bank
The banking industry is reeling with shock following the decision by the Bank of Uganda, the regulator of the financial services industry, to close down Mercantile…
Stanbic’s FlexiPay starts global money transfer
Ugandans working in the United Arab Emirates, the United Kingdom, the United States, South Africa, Kuwait, and more than a dozen other countries can now send money home…
BoU maintains CBR at 10.25% as inflationary pressures persist
Bank of Uganda has kept its key rate unchanged at 10.25% in June unlike in the previous month when it was raised from 10%, which was prompted by rising inflation and…
New NCBA branch to serve Namanve investors
NCBA Bank has opened a new branch, strategically located in Namanve Industrial Park near Kampala, a development officials said underscores the bank’s commitment to…
BoU chief salutes DTB’s Thambi over exceptional performance
The Bank of Uganda Acting Governor, Dr Michael Atingi-Ego has hailed Thambi Verghese, the outgoing managing director of Diamond Trust Bank Uganda, for transforming a…
UBA elects new Board as assets soar to UGX50 trillion
Members of the Uganda Bankers Association (UBA) have voted Julius Kakeeto as their new chairperson, replacing Sarah Arapta.
Bankers protest proposed ATM cash tax
Commercial banks have objected to the government proposal to impose a 0.5% levy on all cash withdrawals made through ATMs, saying the move would be counterproductive.
Inflation: Bank of Uganda raises CBR again
For the second month in a row, the Bank of Uganda has raised its key rate, the central bank rate (CBR) in a bold move to combat inflation.