Bank clients in Uganda have called upon government to set up an independent body to conduct a special audit into the operations of the Central Bank and the commercial banks in the country. The call has been made by the chairperson of the Bank Customers’ Rights Protection Organisation, Nabunya Ntege at a time the central […]
The Commercial Court has given Bank of Uganda and Business tycoon Sudhir Ruparelia 60 days within which to amicably settle their differences, failure of which the case file will be forwarded to a Judge for hearing. On Tuesday this week, the Head of this Court Justice David Wangutusi appointed city lawyer Harriet Magala from Kituuma Magala and company […]
The Central Bank raised the lending rate by 1% moving it to now 17% as a way to control the rising inflation in the country’s economy. Announcing the new CBR yesterday, the central bank governor, Prof, Emmanuel Tumusiime Mutebire said, the bank’s forecasts based on the prevailing domestic and external economic conditions and outlook indicates that […]
With the continued depreciation of the local currency against the dollar, among other foreign currencies since the beginning of this year, which in turn has caused high inflation on the economy, the Central Bank has deemed it fit to raise the Central Bank Rate (CBR) by 1% point to 13% for the month June 2015 as an intervention […]