Parliament has granted leave to Tororo county member ofparliament Geoffrey Ekanya to introduce a private members bill entitled the land and agricultural
bank bill.
While seeking the leave Ekanya told parliament that there is need to
diversify the financial products provided by the banking sector saying
that the current products are similar.
He said that this bill wil empower banks offer the financial products that are
tailored to land and agricultural development in Uganda.
He says that the repayment of credit will depend primarily on the successful production and marketing of the item invested in and on collateral taken.
He says that the financial product offered by the land and
agricultural development bank will be applied in the Uganda’s banking
sector and will not affect the existing banks.