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Tag Archives: bank of uganda

Agricultural credit facility demand outstrips available funds

Kampala, Uganda | THE INDEPENDENT | Ugandans in the agriculture sector have so far received a total of 620 billion Shillings under the Agricultural Credit Facility, a fund managed by the Bank of Uganda, according to a report for the period June 2020/2021. This was an increase by half in the amount …

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African bankers move to orient industry towards climate resilience

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda has joined the Uganda Development Bank in supporting climate-friendly economic development through the financial sector. The Central bank is now developing guidelines that will help other financial institutions go beyond their own administrative environment-related policies, to ensure that the services they …

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BoU permits extension of repayment credit relief to education, hospitality sectors

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda has issued an exceptional permission allowing Supervised Financial Institutions-SFIs, at their discretion, to offer a repayment credit relief to their creditor in the education and hospitality sectors. The said SFIs include commercial banks, credit institutions, and microfinance deposit-taking institutions. Previously, authorities at …

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Ignore rumor of seizing money in dormant accounts – Kasaija

Kampala, Uganda | THE INDEPENDENT | Holders of bank or mobile money accounts whose cash balances may be transferred to the Bank of Uganda or to the Consolidated Account, are free to recover it according to the laws. The National Payments Act, 2020 provides for the transfer of “idle money” or …

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Financial sector, BoU agree on fair play to develop technology

Kampala, Uganda | THE INDEPENDENT | The Bank of Uganda will keep reviewing the operating conditions of the financial technology companies-Fintech, which have termed the recently introduced regulations for the sector as unfavourable. Fintech is the technology and innovation that aims to compete with traditional financial methods in the delivery of …

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