By Aloysious Kasoma Finance Trust Bank (FTB) has become 8th bank to receive the Bancassurance License from the Insurance Regulatory Authority (IRA). This innovation of banks selling insurance products is expected to increase insurance penetration in Uganda from the current less than 1%. Finance Trust Bank received the certificate on
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Ecobank Uganda has partnered with various entities to increase its offering for its premier banking customers across different segments. The bank has partnered with TPS Uganda that is Kampala Serena Hotel, Lake Victoria Serena Golf Resort and Spa, Nina Interiors- one of the leading furniture shop in Uganda, Prudential Insurance
Read MoreTechnology is increasingly changing the way people transact business world over. According to Uganda Communications Commission (UCC), Uganda has over 13 million internet users, a development that has seen many businesses go online. It is against this background that a number of banks are embracing digital banking that will in
Read MoreProf. Emmanuel Tumusiime-Mutebile, the Bank of Uganda (BoU) Governor will tomorrow issue the Monetary Policy Statement for the month of February. BoU stayed the Central Bank Rate (CBR), a benchmark lending rate for commercial banks for the month of December at 9.5% on account that core inflation is projected to
Read MoreUgandan banks have been cautious towards lending to the private sector in recent years due to high Non-Performing Loans (NPLs) that have plagued the banking sector. NPLs have largely been attributed to the sluggish economy that has seen many borrowers fail to pay back their loan obligations, leaving many banks
Read More110 foreign exchanges and money transfer bureaux in Tanzania were shut down last month after failing to observe new regulatory guidelines. The Bank of Tanzania (BoT) made regulation changes due to money laundering activities and the need to protect the Tanzanian Shilling. In a press briefing, Eliamringi Mandari, manager Directorate
Read MorePrior to his appointment as Executive Director-Supervision at Bank of Uganda (BoU), Dr. Tumubweine Twinemanzi was a little known fellow. Prof. Emmanuel Tumusiime-Mutebile appointed Twinemanzi to succeed Justine Bagyenda better known as the Iron Lady at BoU and banking industry at large on February 7, 2018. The appointment took immediate
Read Moredfcu customers and the general public can now purchase a wide range of insurance products including motor vehicle cover, fire and burglary, Child Education, goods in transit and so much more from dfcu Bank. This after the Insurance Regulatory Authority of Uganda granted dfcu Bank a license to offer bancassurance
Read MoreProf. Emmanuel Tumusiime-Mutebile, the Governor Bank of Uganda (BoU) has made new appointments and transfers in BoU's top management. Justine Bagyenda, the long serving Executive Director at Uganda’s Central Bank has been relieved of her duties. According to a statement dated February 7, 2017 obtained by Business Focus, Bagyenda has
Read MoreEcobank Uganda has taken a bold step of reaching out to potential customers in a move aimed at making the Pan-African bank grow further. “Our teams are continuously on the move to reach you and your business to help you join our new world of digital banking,” Ecobank Uganda said
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