The released Parliamentary Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) report on the controversial closure and sale of seven defunct banks by Bank of Uganda (BoU) has recommended that the Central Bank pays billions of money to some of the bank owners for causing them financial loss. The
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The long-awaited Parliamentary Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) report on the controversial closure and sale of seven defunct banks by Bank of Uganda (BoU) is finally out. The investigations followed the special audit report by the Auditor General that raised a number of queries in the
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The Parliamentary Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) has for the last three months been investigating Bank of Uganda (BoU) over the controversial closure and sale of seven defunct banks. The investigations followed the special audit report by the Auditor General that raised a number of queries
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dfcu Customers will, for a limited time only, access personal unsecured loans of up to UGX 150 million at a competitive interest rate as low as 17.5% per annum. According to dfcu Bank’s Head Personal Banking, Miranda Bageine Musoke, customers will be able to apply in minutes and have money
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Lending rates and Non-Performing Loans (NPLs) in Uganda’s banking industry are gradually declining, a new report has revealed. The PwC report titled ‘Uganda Economic Outlook – 2019’, Average lending rates charged for shilling denominated loans have been gradually declining. As at June 2018, the shilling denominated loans average interest rates
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Stanbic Bank has appointed Emma Mugisha (in featured photo) the new head of Corporate and Investment Banking (CIB). Her role is to oversee the bank’s CIB clientele including government, large corporate and financial institutions. She is responsible for their value added investment banking and cash management products while aligning their
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MPs sitting on the Committee of Commissions, Statutory Authorities and State Enterprises (COSASE) have noted with concern the informal manner in which Bank of Uganda (BoU) officials conducted business with their partners to fraudulently sell some of the local banks. This was after MMAKS advocates, the legal advisors of BoU
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Bank of Uganda (BoU) paid MMAKS Advocates lawyers in foreign currencies despite the fact that the legal advisors had filled their invoices in Uganda shillings, MPs on the Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has established. The MPs on Wednesday accused Bank of Uganda of showing no
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Lawyer Timothy Masembe of MMAKS Advocates finally appeared before MPs on parliament’s Committee on Commission, Statutory Authorities and State Enterprises (COSASE) on Tuesday afternoon after snubbing the Committee in the morning. He was supposed to give details concerning the sale of Crane Bank Limited (CBL) where his firm played the
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The merged CBA and NIC bank will count among its top owners some of Kenya’s most renowned billionaire investors and political figures, shareholder information on the two lenders has revealed. Records from the Registrar of Companies have revealed the underlying ownership of the privately-held CBA bank, whose investors will control
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