Rakesh Jha, who has been the Managing Director of Barclays Bank Uganda for the last five years, will leave the financial institution in August this year. The Bank’s Board has appointed Mian Nazim Mahmood as his successor in Interim capacity. During his tenure at the bank, Barclays’ total assets grew
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The Bank of Uganda (BoU) has revealed that on July 17, 2019 at 10:30am, the Central Bank experienced a temporary malfunction of the Real Time Gross Settlement System (RTGS). “It should be noted that this WAS NOT a system crash as has been portrayed in the media,” Prof. Emmanuel Tumusiime-Mutebile,
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A proposal is in the offing to amend the Bank of Uganda (BoU) act to split the bank management from the board of directors. The Iganga East County Member of Parliament, Michael Mawanda who intends to table the proposal in a private member's bill, says they are intended to end
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Equity Bank Uganda is leveraging on technology not only to grow, but also bring more Ugandans into the banking fold. According to Samuel Kirubi, the Managing Director, Equity Bank Uganda, they are increasingly digitizing their products and services to meet customers’ needs. He gave an example of agency banking where
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The Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile has said he is uncomfortable with the high lending rates in the country. He made the remarks while speaking at the third edition of the Annual Bankers Conference held at Serena Hotel today on the theme - “De-risking Financing & Investment
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dfcu bank has broken silence on the alleged hacking of its system that has reportedly caused financial loss to the bank and customers. However, in an official statement dated Monday 15th July 2019, dfcu has described the reports as “malicious falsehoods”. Headed by Mathias Katamba (in featured photo)as Managing Director,
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Police have charged a junior staff of dfcu bank for stealing customer’s savings worth Shs10bn, reports say. The suspect identified as Braise Ombuze has been charged with the offense of Electronic Fraud and Theft under a reference Vide CID HQTRS GEF 604/2019. Ombuze had been detained at CID head offices
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The Bank of Uganda Governor, Prof. Emmanuel Tumusiime-Mutebile has hailed the introduction of mobile money in 2009 as a game-changer in Uganda’s financial sector. Speaking on Financial Sector Deepening Uganda Breakfast Discussion on “Redefining Financial Inclusion” held at Kampala Serena Hotel on Wednesday, July 10, 2019, Mutebile acknowledged the unprecedented
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Uganda’s banking sector is yet to fully recover from high Non-Performing Loans (NPLs) that has left many banks counting losses as a result of high loan defaults. This state of affairs has also left a number of business people and companies financially distressed. The latest is that Standard Chartered Bank
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The Bank of Uganda (BoU) has spoken out on the reported suspicious movement of currency from Kampala to upcountry branches. This comes at a time when Police is investigating the Central Bank following reports that some of its officials allegedly printed extra Shs90bn for their own use. In a statement
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