Tag Archives: banks

Centenary becomes third bank to unveil micro-loans to customers via mobile phones Kampala, Uganda | ISAAC KHISA | Despite talk that micro-loans may not create a big impact on the economy, the scramble for a share of the small loans business by Uganda’s banking industry continues to gain momentum. Centenary Bank …

THIS WEEK: Banks sue URA over customer data Kampala, Uganda | THE INDEPENDENT | Banks under their umbrella body, Uganda Bankers Association have dragged Uganda Revenue Authority (URA) to court over a directive by the tax revenue collection body to banks to submit information of their customers including account name, Tax …

Kampala, Uganda | THE INDEPENDENT | Government has asked Uganda Revenue Authority (URA) to drop a recent directive for banks to release to them account details of all their clients. Uganda’s cabinet decided on Monday that the URA move “would cause unnecessary litigation and some turbulence in the banking sector and …

  Kampala, Uganda | THE INDEPENDENT |  The Uganda Bankers Association (UBA) is challenging a directive to its members requiring them to furnish information related to all the accounts they hold. Uganda Revenue Authority (URA) last month wrote to all Ugandan banking institutions asking them to release demographic and financial …

Why policy measures that curtail the volume of bank lending to the business community must be avoided COMMENT | LOUIS KASEKENDE | I would like to begin by explaining why I think that a socio-economic impact assessment is a very useful initiative for the bank to have taken. Banks all around …

The initiative is to settle disputes cheaply, quickly and fairly Kampala, Uganda | JOSEPH BAHINGWIRE | Court cases in Uganda involving clients and commercial banks tend to take many years to be resolved but this will soon change as banks in collaboration with the Uganda Law Society and commercial courts …

Kampala, Uganda | JACKSON EMANZI | In most developed countries building a house is a capital-intensive venture which requires a well-developed plan and readily available finances. This ensures the construction starts and is completed on time and the quality of the build is generally not compromised. In Uganda however as in …

Kampala, Uganda | JULIUS BUSINGE | The Insurance Regulatory Authority (IRA) has so far issued eight certificates to banks to offer bancassurance (selling insurance policies) to their clients as one way of boosting the sector’s growth. Speaking at a press conference in Kampala on Feb.08, IRA officials including the Chief Executive …

New move expected to boost country’s insurance penetration Kampala, Uganda | ISAAC KHISA | For a long time, buying insurance policies in Uganda through commercial banks, also known as bancassurance, remained unthinkable. Policies were purchased directly from insurers’ branches or through brokers, a situation that had been blamed for a slowdown …

Low private sector lending, decline in interest rates to take toll on the bank’s profitability for the year ending Dec 2017 Kampala, Uganda | ISAAC KHISA | Uganda’s commercial banks seem to be laying down new strategies as the industry anticipates to record subdued earnings in 2016 owed to low private …