Kenya could be ripe for a digital currency in the next three years if regulations are crafted, Joshua Oigara, CEO of Kenya’s largest bank has said, reports the Standard. Oigara said away from the wave of bitcoin that has swept different countries in the world, including Kenya, there are so
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The maximum cost of loans remains unchanged after the Central Bank of Kenya (CBK) Monday retained the base lending rate for the eighth time in a row. The Monetary Policy Committee (MPC) maintained the benchmark rate at 10 per cent, saying the current monetary policy stance had reduced the threat
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Diamond Trust Bank (DTB) joined the Interswitch ATM service with effect from Jannuary12, 2018. The Interswitch ATM service will link DTB customers to over 500 ATM locations all over Uganda. “The launch of the interswitch ATM service will bring a convenient and reliable service to our customers, thanks to increased
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If you have huge cash on your Mobile Money (MM) Account, you risk losing it in case the telecom operator collapses. This is revelation was made by Justine Bagyenda, the Executive Director- Supervision at Bank of Uganda (BoU) while appearing before the Parliamentary Committee Of Communications and Technology on Thursday.
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The High Court (Commercial Division) on December21, 2017 disqualified lawyers David Mpanga of FK Mpanga Advocates and Timothy Kanyerezi Masembe of MMAKS Advocate from representing Bank of Uganda (BoU) against businessman Sudhir Ruparelia over conflict of interest. The Central Bank is accusing property mogul Sudhir and his Meera Investments of
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The World Bank will Monday unveil a book based on Equity Bank’s successful turnaround strategy. Titled Developing Africa’s Financial Services - The Importance of High Impact Entrepreneurship, the book provides inspiring success stories of financial sector ventures making a lasting contribution to the economic development of various sub-Saharan African countries.
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The Bank of Tanzania (BoT) has moved to shut five non-performing lenders down in a bid to protect the stability of the neighbouring country's banking system. A statement released by BoT Thursday revealed the affected banks as Covenant Bank For Women Limited, Efatha Bank Limited, Njombe Community Bank Limited, Kagera
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By Aloysious Kasoma Diamond Trust Bank Uganda has received a license from Insurance Regulatory Authority (IRA) to provide Bancassurance as a product on the Ugandan market. Bancassurance simply means the selling of insurance products and services by banks. Bancassurance takes effect in Uganda following the passing of the Financial Institutions
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Housing Finance Bank is reportedly seeking Shs61bn Capitalization from government to meet the 'new capital requirements' by the Bank of Uganda (BoU). However, that's far from the truth. Justine Bagyenda, the Executive Director in charge of Supervision at BoU says the Central Bank hasn’t put in place new capital requirements,
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Uganda's High Court, Commercial Court Thursday disqualified lawyers David Mpanga from FK Mpanga Advocates and Timothy Kanyerezi Masembe from MMAKS Advocate from representing Bank of Uganda (BoU) against businessman Sudhir Ruparelia over conflict of interest. The Central Bank is accusing property mogul Sudhir and his Meera Investments of fleecing the
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