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Sudhir Forex Bureaus Closed

Bank of Uganda, Crane Bank Saga

Ugandan moneybag, Sudhir Ruparelia’s Crane Forex Bureau has been struck off the list of registered forex bureaus in the country in what appears to be another blow to the embattled tycoon.

This action was taken by the country’s Central Bank on Wednesday by an the Governor, Emmanuel Tumusiime Mutebile. Three more bureaus were affected.

“Bank of Uganda wishes to notify the public that the forex bureau licences issued to the following Forex Bureaus expired on December 31 2016 and were not renewed,” the statement read.

The statement from the Bank of Uganda announcing closure of Sudhir forex bureaus

The bureaus affected include; Crane Forex Bureau Limited, Crane Forex Bureau (Kampala Road) Limited, Karibu Forex Bureau Limited and Redfox Bureau De Change Limited.

This action comes three months after Bank of Uganda (BOU) transferred the assets of Crane Bank (owned by Sudhir)  to DFCU Bank.


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