Banks under their umbrella body Uganda Bankers Association (UBA) have rejected Uganda Revenue Authority (URA)’s directive to have them release all account details of their customers, arguing that it is unlawful. In a press statement dated April8, 2018 signed by Fabian Kasi, the UBA Chairman and Wilbrod Humphreys Owor, UBA
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The push and pull to have the law capping interest rate reviewed has taken a new twist with accountants saying the move would be counterproductive. The Institute of Certified Public Accountants of Kenya (ICPAK) is now warning that removal of legal limits on borrowing will hurt consumers by returning the
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By Aloysious Kasoma The controversial successful sale of Crane Bank to dfcu was a blessing to the financial sector, Dr. Louis Kasekende, the Deputy Governor, Bank of Uganda has said. Speaking at an event to mark 20 years of Securities Exchange (USE) at Kampala Serena Hotel on Friday Kasekende said:
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Bank of Uganda (BoU) Deputy Governor Dr. Louis Kasekende on April 05, 2018 delivered a keynote address at the Stanbic Bank Enterprise Conference held at Hotel Africana, Kampala. He explained key factors why many Small and Medium Enterprises (SMEs) fail and gave tips on how small start-ups can grow sustainably.
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A new study from Habitat for Humanity says that housing microfinance can and should become a mainstream offering for financial institutions in Sub-Saharan Africa as they respond to growing housing needs in the region, particularly from poor people. The business case study, released Thursday, is entitled “Building the Business Case
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A big misunderstanding has erupted between Uganda Revenue Authority (URA) and commercial banks after the tax body asked the latter to unveil it with all account details of their customers, Business Focus reports. In a letter dated March16, 2018, URA asks banks to send in all information of their customers
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By Aloysious Kasoma Finance Trust Bank (FTB) has unveiled a new product; Trust water and Sanitation Loan aimed at extending safe and clean water to low income earners. Speaking at the launch on Wednesday at Serena Hotel, the FTB Managing Director Annet Mulindwa Nakawunde said that the loan was developed
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As Uganda prepares to see her first oil in 2020, Small and Medium Enterprises (SMEs) have been urged to prepare as well to cash in-on the opportunities in the sector. According to experts, US$15bn (Shs54.7 trillion)-US$20bn (Shs73 trillion) is expected to be invested in Uganda’s oil and gas sector in
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The office of the Auditor General is carrying out a broad forensic audit into the operations of Bank of Uganda and is demanding accountability for Shs200 billion taxpayers’ money that was injected into Crane Bank before it was sold to Dfcu Bank. The AG is carrying out the audit on
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Bank of Uganda (BoU) has released interest rates and bank charges for personal accounts of Uganda’s 24 banks as at January1, 2018. This highlights the most expensive and affordable banks. BoU said it is publishing these Commercial Bank Interest rates and charges to promote transparency and enhance competition in the
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