Bank of Uganda (BoU) has expressed disappointment that no financial institution has applied formally for a license to offer Islamic Banking services in Uganda. Dr. Louis Kasekende, the Deputy Governor, BoU said the Financial Institutions (Islamic Banking) Regulations, 2018 are now in place. “These regulations permit the BOU to issue
Read More
Chief executives of publicly traded Kenyan banks are paid nearly 50 times what the median bank employee earns, the latest executive pay data shows, offering insight into the extent of wage inequalities in Kenya’s private sector, reports Business Daily. This remuneration structure means a typical bank employee in Kenya will
Read More
By Aloysious Kasoma Orient Bank Uganda has marked 25 years of banking business under the guardianship of a successful family. The bank which has since hit 23 branches and 25 ATMs across the country held its celebrations at Serena Hotel on the Tuesday. Speaking during the event, the founder and
Read More
Barclays Bank of Kenya (BBK) has won the first round of the case against a local company laying claims to its South African parent firm’s name, Absa, reports the Daily Nation. High Court Judge Mary Kasango has declined to temporarily stop BBK from using the name Absa as sought by
Read More
dfcu Bank has appointed Andrew Kabeera as the new Chief Operating Officer. A seasoned banker with experience spanning over 13 years, Kabeera is responsible for among other aspects establishing operational excellence and great experience across all touch points and driving the strategic goal of Superior financial performance on cost income
Read More
Ongoing improvement in East Africa’s economic prospects is forecast by Ecobank’s research team in the newly published East Africa section of its flagship financial website, AfricaFICC. Ethiopia, Kenya, Tanzania and Uganda are the regions’ economic powerhouses and are enjoying a period of significant economic growth – their Gross Domestic Products
Read More
The Bank of Uganda (BoU) has revealed that interest rates continues to decline, but customers of small-sized loans are charged higher rates compared to big ones. According to the Monetary Policy Report for June 2018, the Weighted Average Lending Rate (WALR) has declined to 20% and 7.8% in April 2018
Read More
Uganda has 24 operating banks but the market is dominated by a few banks, a thing that could adversely hurt the economy in case one of them collapsed. Stanbic, dfcu, Centenary, Standard Chartered (StanChart) and Barclays control over 60% of the industry market share, according to an analysis carried out
Read More
Two would-be bank robbers almost had their escape scuppered by traffic in Ethiopia's capital Addis Ababa. The attempted bank heist happened late on Tuesday afternoon at the Bole branch of Abyssinia Bank. Two of the alleged robbers - one of whom is reported to be a security guard - fled
Read More
Ecobank Uganda has donated to the fasting Muslim community, proving why it is a Pan-African bank. The bank has recently been donating food stuffs to the needy and unprivileged Muslims in the Mosques of Ggaba, Old Kampala and Wandegeya. Primrose Kobusingye, the Head of Marketing & Communications at Ecobank Uganda,
Read More
