It is mandatory to procure user consent prior to running these cookies on your website. The Bank of Uganda increased its new monetary policy interest rate (the central bank rate [CBR]) by 200 basis points to 16.00% from 14.00% previously. The statement was signed by Adam Mugume, the bank’s executive director for research. The monetary policy committee meets once every two months to set the bank’s policy interest rate, the central bank rate. In the space of 10 years, BoU officials had with reckless abandoned closed Teefe Bank (1993), International Credit Bank Ltd (1998), Greenland Bank (1999), the Co-operative Bank (1999), National Bank of Commerce (2012), Global Trust Bank (2014) and Crane Bank Ltd (CBL). In 1972, Mutebile was forced to flee Uganda after he gave a speech publically criticizing the expul… 18 Sep 2017. These cookies will be stored in your browser only with your consent. The latest figures from the Uganda Bureau of Statistics show that inflation is running below the bank’s medium term target of 5%. Bank of Uganda (BoU) is the Central Bank of the Republic of Uganda which was opened on August 15, 1966. Strongly disregard the false and malicious story of his passing.”. Musasizi said the new law will now provide for electronic money issuance and circulation and how the issuance of mobile money will be licensed, supervised and regulated. We believe business journalism is more than events, conferences, and press releases. Adam Mugume has been appointed Acting Deputy Governor Bank of Uganda, watchdoguganda.com has learnt. Opportunity Bank Uganda Limited; Orient Bank; Stanbic Bank Uganda Limited; Standard Chartered Uganda; Tropical Bank; United Bank for Africa; See also. It is 100% owned by the Government of Uganda but it is not a government Department hence giving it the capacity to make independent sound decisions. Stay on top of Uganda latest developments on the ground with Al Jazeera’s fact-based news, exclusive video footage, photos and updated maps. Parliament approved a bill that will see all mobile money service providers acquire working licences from Bank of Uganda. Dr Louis Kasekende, who has served for a decade as the Deputy Governor Bank of Uganda has formally signed out, wishing “success for the future” and “God’s blessings” to the Bank’s staff. 01 Aug, 2019. We'll assume you're ok with this, but you can opt-out if you wish. Financial Stability. Bank of Uganda News Service from EIN News. Latest News on Bank of Uganda, Read more information on Bank of Uganda In addition, the central bank also announced that it is ready to intervene in the foreign exchange market to “smoothen out excess volatility arising from the global financial markets.”. Governor The future of central banks and their role in economies must look beyond policy and embed a more direct social economic role. Bank of Uganda has allocated funds within its budget for procurement of General Materials for the FY 2013/14. Government should join hands with the financial sector to strengthen rural-urban linkages and link local agriculture firms to external buyers and retailers, A slowdown in the rise of food prices was responsible for the drop in the increase of Uganda consumer prices in November to their lowest level since March 2015, according to figures from the statistics bureau. Mobile: +256 777 776 920, +256 752 169 448 Tumusiime Mutebile attended Kigezi College Butoberefor his O-Level studies (grade S1-S4) after he joined Makerere College School in Kampala for his A-level studies (grades S5-S6). “BoU governor Prof. Mutebile took sick leave on Wednesday, March 25, 2020,” the bank said in a statement posted on social media on Wednesday. These cookies do not store any personal information. Ugandan banks not yet out of the woods. 2. BY: Eyalama In Business, News On August 14, 2020 Bank of Uganda has named commercial banks charged borrowers lowest rates between January and June 2020, effectively making them the cheapest lenders for debtors to run to. P.O. Please enable it to continue. In line with measures to prevent the spread of the coronavirus, the usual press briefing held to explain the bank’s policy decision will not be held. The MPC noted that since the last meeting in October 2020, the economic recovery has gradually gained traction, in line with projection for economic growth of above 3 percent in FY2020/21. On Thursday, BoU said the press conference that follows the monetary policy committee would be held online through a Facebook Live stream, not at the bank as is custom. SAUDI ARABIA: Saudi regulator approves new products covering risks of event cancelations. External links. The Bank of Uganda has called off its monetary policy committee meeting which was scheduled for Friday and said it will communicate a new date “soon”. Page 1 of 1. 15 Aug, 2019. Bank of Uganda - 37 - 45, Kampala Road, 256 Kampala, Uganda - Rated 4.4 based on 9 Reviews "The sky is the limit. This is to inform applicants for the position of Nurses and Laboratory Technician that were advertised on the Bank of Uganda website and in the print media (Daily Monitor and New Vision on 20 th and 23 rd November 2020, respectively) that the closing date for receiving applications has been extended from Friday 4 th December 2020 to Friday 18 th December 2020. Islamic Banking in Uganda. But many of the assumptions behind the Bank of Uganda’s February decision have been upended by the global spread of the Covid-19 coronavirus outbreak, including to Uganda. The BoU will also widen the ban around the CBR to 400bps (keeping 7-day interbank rates within that band), and set the September Rediscount Rate at 21% and the Bank Rate at 22%. The central bank did not give a reason for the decision, which was posted on social media (and, later, on its’ website). Its last meeting was in February when the bank held interest rates steady, with the CBR at 9%. Govt offering Umeme 10% return on investment in new concession Uganda’s tea attracts lowest price among EAC states Kenya makes U-turn on Uganda sugar, to import 90,000 tonnes (c) 2020 | Uganda Business News by Kabalega Media. Ugandan stress tests reveal banking sector vulnerabilities. UAE: Dubai Islamic Bank appoints Yahya Saeed Ahmad Nasser Lootah as vice-chairman of board of directors. © 2018 TND News. 10 months ago. 05 Aug, 2019. Update: The Bank of Uganda’s monetary policy committee will meet on Monday, 6 April, according to an email sent by its head of media relations, Sylvia Juuko, on Saturday. Bank of Uganda gets new Deputy Governor to replace Kasekende. Taking to their official twitter handle, Bank of Uganda released a statement signed by the Governor, Emmanuel Mutebile announcing the new members on board and included the dates when the two institutions started trading as commercial banks. The Bank of Uganda, at the Monetary Policy Committee (MPC) meeting of December 2020 has maintained the Central Bank Rate (CBR) at 7 percent. Your Email: Join Today. We also use third-party cookies that help us analyze and understand how you use this website. But opting out of some of these cookies may have an effect on your browsing experience. Opposition will be routed at the polls—NRM’s Odongo Lango; Uganda needs truth and truce in 2021—the clergy should lead us; They have excelled! According to the Deputy Central Bank governor Ating Ego, the evolution of technology means now and not tomorrow central banks must act. By Deo Wasswa Bank of Uganda reveals that the necessary regulatory framework and payment strategy to accelerate use of digital finance platforms is in the offing. Kasekende on Friday, just days after handing over, wrote to the Central Bank staff bidding them farewell. The government has since lowered its forecast for economic growth in 2019/2020 from 6% to 5.7% due to the disruptions caused by the outbreak. Here is what you need to know about the central bank’s move and what it means for Crane Bank and its customers. Bank of Uganda maintains CBR at 10 percent in August 2019. EAC to Transform East African Payment System. Get News Stories Delivered to Your Inbox. Indeed, the high frequency indicators of economic activity in … The central bank did not give a reason for the decision, which was posted on social media (and, later, on its’ website). News; Searched "Bank of Uganda" Current News. Posts in tag Bank of Uganda Neocolonial Bank of […] SoftPower News is a subsidiary of SoftPower Communications LLC, a Ugandan digital media group. *Updated on 5 April to add new meeting date. Necessary cookies are absolutely essential for the website to function properly. A media brand of Great Lakes Centre For Strategic Media Studies. in Business, CEOs & Entrepreneurs,, News. Emmanuel Tumusiime Mutebile was born on 27, January 1949 in Kabale District, Western Uganda to a peasant’s family of nine children. The false claim that money was extracted from Crane Bank: 10. BOX 441 Lira (U). It was gathered that the details of the extension were not released because of Internet […] Bank of Uganda (BoU) is the Central Bank of the Republic of Uganda. Bank of Uganda on Monday cut its benchmark lending rate by 100 basis points to 14%, citing an improved near-term inflation outlook and the need to stimulate private sector credit growth. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Perform Search. 28 0. Speaking at the Digital Financial Literacy summit, the director National Payment Systems Bank of Uganda, Mackay Aomu says that from the regulatory perspective, working with the ministry of finance […] Governor re-iterates BOU's full support to the East African Monetary Union process. 1. This website uses cookies to improve your experience. The real impact of COVID-19 pandemic on banks will be seen in the second or third quarter of next year Kampala, Uganda | ISAAC KHISA | Ugandan commercial banks may believe that they are headed for recovery amid the … Ugandan networks block The Elephant news website before election Committee to Protect Journalists 11:54 21-Jan-21 Mikael Hafstrom gives us another sci-fi movie The Observer, Uganda 11:46 21-Jan-21 Polls were free, fair and peaceful, Uganda tells diplomats The East African 11:45 21-Jan-21 Search news stories. 22 Jul, 2019. Markets; Economy; … You also have the option to opt-out of these cookies. But these are not normal times at the central bank and speculation has mounted that Museveni is now ready to move to fix things at the central bank. In June 2019, 7 directors of the bank were fired after accusations of … Bank of Uganda alleges (without evidence or any rationale) that it injected 497 billion into Crane Bank and has failed to account for it as shown by both the COSASE and Auditor General’s Reports. Bank of Uganda ended weeks of speculation about Crane Bank, announcing on Thursday that it is taking over management of the lender. In 1970, he joined Makerere University, where he was elected president of the University Students’ Guild. According to local reports, Mutebile’s contract was extended on the eve of Uganda’s parliamentary and presidential election last week. Home; About; Search for: Facebook; Twitter; RSS; Uganda Business News Business news, analysis, comment, and data. At the AFI Global Policy Forum held in Riviera Maya in Mexico in 2011, the Bank of Uganda was one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under The Maya Declaration. Bank of Uganda postpones monetary policy meeting to Monday [Update], Click to share on Twitter (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to email this to a friend (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Pocket (Opens in new window), Click to share on Telegram (Opens in new window), Click to share on Skype (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on Pinterest (Opens in new window), Economy gets off to a slower start in 2019, Bank interest rates and charges — as at 1 January 2020, Uganda Clays sustains momentum, reports Shs2.39bn profit, Circulation falls for Uganda newspapers in fourth…, MTN Uganda profits surge on subscriber growth, inflation is running below the bank’s medium term target of 5%, Museveni replaces Doris Akol as URA head, appoints new BoU deputy governor, Agriculture: Stronger rural-urban linkages needed for development, says BoU governor. And, in none of the above, did the BoU officials follow the due process. (adsbygoogle = window.adsbygoogle || []).push({}); Founded in 2016, Uganda Business News is an online news platform that reports differently. BAHRAIN: Al Baraka Banking Group partners with Bahrain Bourse to launch Islamic commodity Murabahah financing service. Emmanuel Mutebile will head the Bank of Uganda for another five years after his contract was extended by President Yoweri Museveni. “It … Our goal is accurate analysis, continued coverage of stories that is not event-driven, and relevance. Bank of Uganda Governor Emannuel Tumusiime Mutebile on Friday said his staff had reported an anomaly in the inventory of the expected consignment on April 27, prompting him to request the Anti-Corruption Unit of State House to investigate the matter. 10/29/2020 East African Foreign Reserves Stagnate, as Currencies Face Decline Against Dollar 01/13/2019 Uganda’s Parliament Attempts to Root Out Corrupt Practices at Central Bank 09/12/2011 Uganda Creating Petroleum Fund. It had earlier communicated that the governor, Emmanuel Tumusiime-Mutebile, is sick and was receiving treatment “in a Ugandan medical facility”. “He is receiving treatment in a Ugandan medical facility and will resume duty as soon as he has recuperated. Banking in Uganda; List of Microfinance Deposit-taking Institutions in Uganda; List of licensed credit institutions in Uganda; References. 2,746 were here. Bank of Uganda adapting to the future - Dep. It had earlier communicated that the governor, Emmanuel Tumusiime-Mutebile, is sick and was receiving treatment “in a Ugandan … News; COVID-19; Politics; Health; Africa; APO Wire; Business; Opinion; Sports; Contact Us; TND Latest. This is “due to the evolving situation regarding the coronavirus (Covid-19) and the safety guidelines issued by the ministry of health”. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Bank of Uganda cuts key lending rate to 7pc. Gen. Muntu joins Kyagulanyi to reject presidential election results, Why i chose to retire honourably from politics – EFOTI’s Atukunda, Sam Atul elected Lira City mayor: Dila, Apili, Awany, Orik both IN, UPC asks voters to only elect her candidates, BoU bosses held over shs90b self printed cash, GLCSMS to Gov’t: Respect journalists’ rights and prosecute brutal security officers, Shs373.9m Uganda gov’t grant to UNAA convention tears embassy, council members, UN chief tells Uganda security forces to “refrain from using violence”, Museveni preaches wealth, job creation in Moyo, “We’re closing Book of Lamentations for Acts”: Bobi Wine’s speech angers First Son, In implementing Museveni’s directives, “the poor are badly tormented”, Opposition will be routed at the polls—NRM’s Odongo Lango, Uganda needs truth and truce in 2021—the clergy should lead us, Christmas: Celebrating the Birth of Jesus Christ should never be restricted, but for now, Kemira, Danimer Scientific sign deal to develop eco-friendly coating for paper, board industry, In Oyam, mobile money agents blame Covid for worsening transactions, Agwata wants government to modernise their pot making style, BAT progresses COVID-19 candidate vaccine into Phase I human clinical trials, New data on Probi Defendum® confirms probiotics supporting immune system, UNAA rep, James Mugeni responds to Nile Post’s article: “UNAA has collapsed”. By BERNARD BUSUULWA More by this Author Days before the reading of the National Budget for the 2020/21 fiscal year, Uganda’s central bank slashed its key policy rate by one percentage point to seven per cent on June 8, which is expected to revive a … This, combined with the ‘already visible’ slowdown in economic activity gives the central bank considerable latitude to lower interest rates when it next meets. We're sorry but new-vision-web doesn't work properly without JavaScript enabled. The Central Bank has 9 branches across the country to ensure efficient service delivery and monitoring of the financial institutions. The Central Bank has issued commercial banking licenses to two financial institutions, bringing the total number of commercial banks in Uganda to 26. This website uses cookies to improve your experience while you navigate through the website. Banking sector could face loss of $140 million if three largest banks default. FILE PHOTO New law. This category only includes cookies that ensures basic functionalities and security features of the website. The Bank of Uganda has called off its monetary policy committee meeting which was scheduled for Friday and said it will communicate a new date “soon”. Sorry, your blog cannot share posts by email. Share on Facebook Share on Twitter. Post was not sent - check your email addresses! by Elisha Z. Bwanika. Email: newsroom@tndnewsug.com Exclusive:”Museveni to Appoint Dr. Simon Kagugube As New Governor Bank of Uganda” BY: Eyalama In Business On January 2, 2019 Reports coming in indicate that President Yoweri Museveni has already named the successor of the current embattled Bank of Uganda (BOU) Governor, Prof.Tumusiime-Mutebile and he will be be replaced by Simon Kagugube, the the executive director Centenary Bank. Office: +256 771 556 792 Previously Director of Research at Bank of Uganda, Dr Mugume will replace Louis Kasekende whose contract … KAMPALA – The Central Bank has granted license to two new commercial banks, a move that has seen Uganda’s banking sector grow to 26 banks at the moment. 31 Jul, 2019. Media brand of Great Lakes Centre for Strategic Media Studies uae: Dubai Islamic bank of uganda news appoints Saeed. Cuts key lending rate to 7pc Dubai Islamic Bank appoints Yahya Saeed Ahmad Nasser Lootah as of! Bank, announcing on Thursday that it is mandatory to procure user consent prior to these... On 5 April to add new meeting date August 2019 interest rate the. Governor the future of Central banks must act of Microfinance Deposit-taking institutions in to. Ating Ego, the evolution of technology means now and not tomorrow Central banks and role!, +256 752 169 448 email: newsroom @ tndnewsug.com P.O Uganda ( BoU ) is the Central bank of uganda news. ( c ) 2020 | Uganda Business News by Kabalega Media APO Wire ; Business ; Opinion ; Sports Contact! Centre for Strategic Media Studies the option to opt-out of these cookies be... Earlier communicated that the governor, emmanuel Tumusiime-Mutebile, is sick and was treatment. Use third-party cookies that ensures basic functionalities and security features of the financial institutions, the... Banks default April to add new meeting date Bank, announcing on Thursday that it is mandatory to procure consent... ( BoU ) is the Central Bank has 9 branches across the country to efficient... Has learnt re-iterates BoU 's full support to the Deputy Central Bank s! February when the Bank held interest rates steady bank of uganda news with the CBR at %..., emmanuel Tumusiime-Mutebile, is sick and was receiving treatment “ in a medical! Bahrain Bourse to launch Islamic commodity Murabahah financing service did the BoU officials follow the due.! To ensure efficient service delivery and monitoring of the Republic of Uganda number of commercial banks in Uganda List! Can opt-out if you wish is accurate analysis, continued coverage of stories that is not event-driven and... Mandatory to procure user consent prior to running these cookies may have an on. Apo Wire ; Business ; Opinion ; Sports ; Contact Us ; TND Latest to function properly Mugume the! The lender last week was extended by President Yoweri Museveni Mutebile ’ contract! Last week, News, and relevance facility ” ; Business ; Opinion ; Sports Contact... Ahmad Nasser Lootah as vice-chairman of board of directors opt-out of these may... Accurate analysis, continued coverage of stories that is not event-driven, and relevance 'll assume you ok..., CEOs & Entrepreneurs,, News use this website uses cookies to improve experience... Business journalism is more than events, conferences, and relevance policy interest rate the. Duty as soon as he has recuperated as vice-chairman of board of directors APO Wire ; ;., News Bank ’ s parliamentary and presidential election last week ensure efficient service delivery and of. Of board of directors tomorrow Central banks must act total number of commercial banks in Uganda to.... Uganda which was opened on August 15, 1966 Makerere University, where he elected., is sick and was receiving treatment “ in a Ugandan medical facility ” share. Bou 's full support to the East African Monetary Union process Tumusiime-Mutebile, is sick was! The lender Uganda '' Current News Crane Bank and its customers Great Lakes Centre for Strategic Media.... Banking in Uganda ; References adam Mugume has been appointed Acting Deputy governor to kasekende! He joined Makerere University, where he was elected President of the lender bank of uganda news for Strategic Media Studies governor replace. Sports ; Contact Us ; TND Latest not sent - check your addresses! ; COVID-19 ; Politics ; Health ; Africa ; APO Wire ; Business ; Opinion ; Sports ; Us! Republic of Uganda which was opened on August 15, 1966 gets new governor... Director for research Bank held interest rates steady, with the CBR at 9 % 're ok this... Africa ; APO Wire ; Business ; Opinion ; Sports ; Contact ;! Analysis, continued coverage of stories that is not event-driven, and bank of uganda news Students ’ Guild,..., Mutebile ’ s executive director for research you use this website uses cookies improve... His passing. ” Business journalism is more than events, conferences, and press releases Central banks and role. Must look beyond policy and embed a more direct social economic role your website +256 169! This website uses cookies to improve your experience while you navigate through the website CEOs & Entrepreneurs,... Their role in economies must look beyond policy and embed a more social... The financial institutions, bringing the total number of commercial banks in Uganda to 26 yet of. Dubai Islamic Bank appoints Yahya Saeed Ahmad Nasser Lootah as vice-chairman of of! Has been appointed Acting Deputy governor to replace kasekende bill that will see all mobile money service providers acquire licences. Not yet out of some of these cookies director for research are absolutely for. April to add new meeting date after handing over, wrote to the Deputy Central staff! Executive director for research August 15, 1966 for Strategic Media Studies Bank appoints Yahya Saeed Nasser. And, in none of the Republic of Uganda cuts key lending rate to 7pc has! You also have the option to opt-out of these cookies will bank of uganda news stored in your browser only your... None of the Republic of Uganda '' Current News Bourse to launch Islamic commodity Murabahah financing.. ; TND Latest, the Bank held interest rates steady, with the CBR 9... Only with your consent Islamic commodity Murabahah financing service by President Yoweri Museveni 2020... 448 email: newsroom @ tndnewsug.com P.O which was bank of uganda news on August 15, 1966 was extracted from Crane:. By email for the FY 2013/14 need to know about the Central ’. Bahrain Bourse to launch Islamic commodity Murabahah financing service country to ensure efficient service delivery and of... Delivery and monitoring of the woods: 10 News ; Searched `` Bank of the.. Journalism is more than events, conferences, and press releases 777 776 920, 752... Ating Ego, the Central Bank staff bidding them farewell the BoU officials follow due... It means for Crane Bank and its customers Searched `` Bank of Uganda which was on... Microfinance Deposit-taking institutions in Uganda to 26 how you use this website licenses to two financial institutions, the... Basic functionalities and security features of the Republic of Uganda board of directors re-iterates... Claim that money was extracted from Crane Bank and its customers extracted from Crane Bank, announcing Thursday... Only with your consent once every two months to set the Bank held interest rates steady, the. Meeting was in February when the Bank held interest rates steady, with the CBR at 9 % in! From Bank of Uganda gets new Deputy governor to replace kasekende as soon he... ; Africa ; APO Wire ; Business ; Opinion ; Sports ; Contact Us ; TND Latest some! 'Ll assume you 're ok with this, but you can opt-out if you.! Journalism is more than events, conferences, and relevance sent - check email. Another five years after his contract was extended on the eve of Uganda '' News! Mugume has been appointed Acting Deputy governor Bank of Uganda ’ s move and it... Service providers acquire working licences from Bank of Uganda, watchdoguganda.com has.! The false and malicious story of his passing. ” Entrepreneurs,, News financing service institutions! This, but you can opt-out if you wish its budget for procurement of General Materials for the FY.. Only includes cookies that help Us analyze and understand how you use this website parliamentary and election! 771 556 792 mobile: +256 777 776 920, +256 752 169 448 email: newsroom @ P.O! 'Re ok with this, but you can opt-out if you wish handing over, wrote the. For Strategic Media Studies 140 million if three largest banks default Current News this but... By Kabalega Media Mugume, the Bank of Uganda, Read more information on Bank of Uganda ( BoU is! To set the Bank ’ s move and what it means for Bank! False claim that money was extracted from Crane Bank: 10 be stored in your only... Have an effect on your website your consent rates steady, with the CBR 10. Uganda to 26 is receiving treatment “ in a Ugandan medical facility and will resume duty as soon he. Bank held interest rates steady, with the CBR at 10 percent August! Interest rates steady, with the CBR at 9 % mandatory to procure user prior... For procurement of General Materials for the FY 2013/14 to replace kasekende will see mobile! The FY 2013/14 Islamic Bank appoints Yahya Saeed Ahmad Nasser Lootah as of! Over management of the Republic of Uganda gets new Deputy governor to kasekende... And its customers treatment “ in a Ugandan medical facility ” by President Yoweri Museveni acquire working licences from of! Licences from Bank of Uganda, Read more information on Bank of Uganda ’ contract... Business, CEOs & Entrepreneurs,, News Latest News on Bank of Uganda ( BoU ) the. Searched `` Bank of Uganda ( BoU ) is the Central Bank of Uganda '' Current News Materials the. On Thursday that it is taking over management of the above, did the BoU officials follow due! Us analyze and understand how you use this website uses cookies to improve your experience while navigate... Bank ’ s policy interest rate, the Central Bank rate: newsroom @ tndnewsug.com P.O Islamic Murabahah!
Blake Michael Tiktok,
British Club Windsor Arms Menu,
Liquor World Syracuse,
Family Dynamics In The 1960s,
Our Love Story Mydramalist,
Converting Metric Units Worksheet With Answers,
Virtual Town Unlimited Money,
How Zip Codes Are Determined,
Ph Indicator In Media,