The world’s central banks can’t sit back and ignore the growth in cryptocurrencies as it could pose a risk to the stability of the financial system, according to the Bank for International Settlements. It said central banks will need to figure out whether to issue a digital currency and what
Read More
The Central Bank of Kenya (CBK) Wednesday gave the clearest signal that it intends to push for a repeal of the year-old law capping interest rates because of the negative effect it has had on the economy. CBK governor Patrick Njoroge, however, warned that commercial banks will have to be
Read More
Standard Chartered Bank (StanChart) and MTN Uganda Limited have signed an agreement to allow MTN Mobile Money collections for Corporate and Business clients directly into their Standard Chartered Bank accounts on a real time basis.This solution is dubbed Straight2Bank Wallet Collections and will be delivered through the Bank’s Straight2Bankelectronic banking
Read More
Two people have been arrested for alleged hacking into accounts of Centenary Bank and transferring millions of shillings. The two identified as Denis Etumu and Shalih Ajuna were picked from different areas of Kampala after being trailed by intelligence personnel from Central Police Station (CPS) Kampala. Etumu was the first
Read More
The high profile case between property mogul, Sudhir Ruparelia and Bank of Uganda (BoU) kicked off on Wednesday at Uganda’s High Court, Commercial Division. It is being heard by Justice David Wangutsi. BoU sued Ruparelia and his Meera Investments two month ago, accusing the tycoon of fleecing the then Crane
Read More
13 Ugandan banks risk collapsing if three of their largest borrowers defaulted, according to the 2016 Annual Supervision Report published by Bank of Uganda (BoU) last week. If the three borrowers defaulted, the banks would become significantly undercapitalized; a thing that might see BoU take them over just like it
Read More
Standard Bank Group Ltd. appointed Sim Tshabalala as sole chief executive officer, ending a dual role he shared with Ben Kruger, and making him the first black person to lead Africa’s largest lender independently, reports Bloomberg. Kruger, 58, will step down as joint-CEO immediately and continue as an executive director,
Read More
Uganda has been ranked 3rd in a survey on financial and digital inclusion by a US-based public institution, helped by the wide adoption of mobile money in the local economy. Brookings Institution’s Centre for Technology Innovation, a non-profit organisation based in Washington DC, in its latest report put Uganda 3rd
Read More
Equity Bank Uganda will be hosting a dinner forum on Friday the 15th of September 2017 at Grange Tower Bridge Hotel 45 Prescot St, London E1 8GP, UK from 6:00 pm. During the dinner, the bank's Managing Director, Samuel Kirubi will be speaking on Investment Opportunities in Uganda and other East African countries. According
Read More
Uganda’s richest man Sudhir Ruparelia has exposed Bank of Uganda (BoU) lawyers, MMAKS Advocates and AF Mpanga in new evidence adduced before Uganda’s High Court, Commercial Division. Last Wednesday Sudhir told Court that he wanted the lawyers in question out of the case in which the Central Bank sued him
Read More
