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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Private Sector Credit (PSC) growth has continued to recover supported by Bank of Uganda’s monetary policy easing, Business Focus reports. The Monetary Policy Report for December says that average annual PSC growth for Quarter to October 2017 was 6.2% relative to 5.6% in the previous quarter. However, the report adds
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Regional bank, KCB Group (KCB) is set to introduce a biometric access system that will allow customers to use their fingerprints and voice to securely log into their accounts, including getting services at ATMs, reports the Daily Nation. The tier-one lender has placed a tender inviting qualified technical experts to
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Bank of Uganda (BoU) Governor, Prof. Emmanuel Tumusiime-Mutebile will Monday December 18, 2017 issue the Monetary Policy Statement for the month of December. Analysts are anticipating a further reduction in the Central Bank Rate (CBR), a benchmark lending rate for commercial banks. It worth noting that the Central Bank reduced
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Ecobank Rwanda will invest more funds in agency and e-banking as the lender seeks to increase uptake of its digital products and bring on board the unbanked population across the country, official has said. This comes ahead of planned closure of five of the bank’s branches across the country next
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Fresh details have emerged as to why Bank of Uganda (BoU) dropped lawyers from MMAKS and AF Mpanga in mediation talks between Crane Bank (in receivership/BoU) and property mogul Sudhir Ruparelia. Daily Monitor reports that it was the Principal Judge Yorakamu Bamwine who advised Bank of Uganda to appoint new
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The French Ambassador to Uganda, Stephanie Rivoal has warned Ugandans against unnecessary expenditures, noting that the country can’t develop without a strong savings culture. “Uganda is one of the countries with the lowest savings culture in the word,” Rivoal said, “Ugandans like spending. Majority working class [people] don’t save; only
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