The agreement for the sale of Crane bank to DFCU was shoddy and fraudulent, Former Crane Bank owner, Sudhir Ruparelia has said. According to Sudhir, the Purchase of Assets and Liabilities (P&A) agreement signed between BoU and DFCU did not have details of all assets and liabilities that were being
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After twenty years of collective service with dfcu, the curtains finally came down on Juma Kisaame’s two decade illustrious career and leadership at an event that was well attended by customers, industry peers, business associates, friends and family. The Speaker of Parliament Rebecca Alitwala Kadaga who graced the dinner, held
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By Mr Laban Musinguzi, Uganda’s prevailing situation in the Finance and Banking sector is going through a lot of criticism, experts, academicians, policy makers and politicians are providing several explanations to pinpoint the underlying reasons. From these explanations, there are possible recommendations emerging for the rejuvenation of the economy. However,
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dfcu Bank has flagged off ten (10) women entrepreneurs traveling to Nairobi on an all-expense paid study excursion from 16th to 19th January 2018. The women entrepreneurs were part of eighty (80) women who responded to call for business proposals under the Rising Woman initiative that run from July to
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A section of Exim Bank (Uganda) Limited staff have rejected the appointment of a top manager, accusing him of being incompetent and unqualified for the job. Nitin Shripad Shendye, the Head of Products at Exim Bank is the Manager in question. According to a Bank of Uganda letter dated June2,
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Members of Parliament have today directed Bank of Uganda (BOU) to withdraw the vehicle and security they have been providing to their former Director Bank Supervision, Justine Bagyenda. For some months now Bagyenda who retired in July 2018 has been appearing before the Parliamentary Committee on Commissions, Statutory Authorities and
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The bodyguard of former Bank of Uganda (BoU) Executive Director in charge of Supervision, Justine Bagyenda has revealed that lawyer Timothy Kanyerezi Masembe of MMAKs Advocates was present on the day they sneaked out documents from the Central Bank. Juliet Adikolet (Bagyenda bodyguard) made the remarks on Thursday while appearing
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The former Central Bank Executive Director in charge of Supervision Justine Bagyenda has been accused of usurping the powers of the Legal Department, in her ploy to sell off Crane Bank Limited. The accusation came after reports that Bagyenda engaged external lawyers from MMAKs Advocates to offer financial advisory services
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Bank of Uganda officials have failed to defend the Shs900m paid to MMAKS advocates for external legal advice during Crane Bank sale. BoU officials were Tuesday appearing before Parliament’s Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) in which they were tasked to explain how they hired MMAKS Advocates
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2019 promises to be an exciting year for Uganda’s banking sector as smaller banks aim to take on the ‘big boys’. Banks are set to build on gains registered in 2018 to offer more customer-friendly products and services. According to Bank of Uganda (BoU) private sector credit increased to 12.2%
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