Parliament has tasked the government to explain how Bank of Uganda’s accounts were allegedly hacked, resulting in the theft of approximately Shs60 billion. The matter was raised by the Leader of the Opposition in Parliament, Joel Ssenyonyi, following media reports that over Shs60 billion had been stolen from the central […]
By MARTIN LUTHER OKETCH Bank of Uganda (BoU) has warned that there still exist risks such as geopolitical tensions, which could push up energy prices and freight costs, resulting in higher inflation in Uganda. Inflation has decelerated but Bank of Uganda noted in its Monetary Policy Report that the above […]
The Bank of Uganda has increased its key policy rate, the Central Bank Rate (CBR) to 10% up from 9.5% during a special monetary policy meeting. Deputy Governor Michael Atingi-Ego told a virtual briefing on Wednesday that the benchmark rate has been increased in a bid to curb inflation and […]
The Uganda Bankers’ Association has issued guidelines on how to mitigate fraud within Uganda’s financial sector with one of the proposals entailing all commercial banks to blacklist customers, staff, and collaborators convicted of fraud. The revelation was made by Sarah Arapta, the Association’s chairperson while unveiling the Banking Industry Guidelines […]
Bank of Uganda (BoU) has announced the liquidation and revocation of EFC Uganda Limited’s license. EFC, a microfinance institution that was licensed and supervised by the Bank of Uganda has been ordered to wind up its services across the country. According to a letter released by the Bank of Uganda […]
