The Directorate of Public Prosecution (DPP) has dismissed media reports that they are considering placing criminal charges against Sudhir Ruparelia due to his role in the collapse of Crane Bank Ltd, a bank he founded in 1995. “There are no preferred charges because what we have received is a criminal complaint
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The Bank of Uganda (BoU), the regulator of Uganda’s banking sector is increasingly being put under scrutiny. With the ongoing legal battle between BoU and real estate mogul and founder of the defunct Crane Bank, Sudhir Ruparelia, Amos Nzeyi, one of the shareholders and former chairperson of National Bank of Commerce
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The controversial collapse of Crane Bank, Uganda’s then 4th largest bank in terms of assets has been in the news since the last quarter of 2016. On October 20, 2016, the Bank of Uganda (BoU) announced that it had taken over the management of Crane Bank Ltd after the bank became
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Finance Trust Bank (FTB) has trained over 1,000 women in financial literacy. Speaking to Business Focus on the sidelines of the financial literacy program held at UMA main Hall on Thursday, FTB Managing Director, Annet Nakawunde Mulindwa, said over 1,000 women of all ages were trained and encouraged to open up
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Exim Bank Uganda has launched a 3- month bid guarantee campaign for Small and Medium Enterprises (SMEs) to allow them grow and expand their operations. The bid guarantee will not exceeding Shs1bn capital value. The campaign dubbed ‘Chap Chap’ Bids was launched on Thursday at the bank’s offices located at Hannington
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The Government of Uganda has distanced itself from media reports that it will take over Speke Resort Hotel Munyonyo and other properties of tycoon Sudhir Ruparelia in order to recover losses that were caused to Crane Bank. The remarks were made by Ephraim Kamuntu , the Minister of Tourism, Wildlife
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Centenary Bank and MasterCard on Wednesday announced that their multipronged approach to digitising Uganda’s economy in support of the National Financial Inclusion Strategy. Following the recent signing of a strategic partnership agreement focused on boosting financial inclusion in the East African market, the two partners on Wednesday further strengthened their partnership
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On July13, 2017, the Bank of Uganda (BoU) said it had sanctioned the filing of a suit against Sudhir Ruparelia and Meera Investments Ltd to recoup funds that were fraudulently extracted from, as well as losses that were caused to Crane Bank. BoU filed a civil suit at the Commercial Court
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By Michael Ssekyondwa Following the signing of Agency banking regulations by the Bank of Uganda, commercial banks in the country will now start offering Agency banking. These services allow banks to provide financial services virtually anywhere across the country through third parties called agents. Today’s customer is concerned about convenience, simplicity,
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The Bank of Uganda (BoU) has spoken out on the ongoing media reports about the controversial Crane Bank collapse . Crane Bank was last year on October taken over by BoU after it became 'significantly undercapitalized.' Crane Bank was controversially sold to dfcu Bank early this year. As the Receiver of Crane
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