Ibrahim Kasirye the Director of Research at the think tank said women still lack simple things like the National Identity Card which are vital for account opening or accessing digital financial services. He says many women also need permission from their spouses to open a bank account.
Cephas Birungyi, a Team Leader at Birungyi, Barata & Associates and a representative of the Uganda Law Society underscored the need for a cautious approach in implementing the proposed legislation on Islamic Banking.
Goods manufactured in Uganda for export to the region include construction products like cement, steel bars, iron sheets, and paint, among others. Fast-moving consumer goods include scholastic materials, personal care products like cosmetics, textiles, foam products etc.
Speaking at the flag-off, the Uganda Vintage Car Club President, James Ayo, said that many of them have been forced to re-register their cars using the current registration and number plate series when changing ownership or acquiring vehicle insurance.
The BoU Executive Director for Research, Adam Mugume says that for now, the economic growth is expected to be slower by 0.5% unless the pandemic worsens in the short term.
Bank of Uganda’s Executive Director for Research, Dr Adam Mugume says if the 2021/2022 budget proposals are passed, the total outstanding debt of the country will rise to Shs86.9 trillion, which will be 52% of the GDP.
The legal Committee of Parliament has rejected a proposal to have the Deputy Governor Bank of Uganda (BoU) serve for a maximum two terms of 10 years while the Governor’s term is unlimited.
“BoU will extend for six months effective from 1st April 2021 the Credit Relief Measures (CRM) and also maintain the Covid-19 Liquidity Assistance Program (CLAP) to supervised financial institutions.
BoU will review CLAP from time to time as the pandemic evolves to ensure viability of solvent supervised financial institutions that may come under liquidity stress during the pandemic and to support credit extension”, said Deputy Governor, Michaeil Atingi-Ego.
The economies of Ethiopia, Uganda, Ivory Coast, Egypt, Ghana, Rwanda and Kenya withstood the economic impact of the pandemic so successfully that they were among the world’s 10 fastest-growing in 2020. At least five of them are expected to remain in that elite growth club through 2022, according to forecasts by economists compiled by Bloomberg during the past three months
The MPs led by the Kampala Central MP Mohammed Nsereko point out that businesses have been financially crippled by the COVID-19 lockdown and deserve a major bailout in order to stay afloat.
The Registrar for the High Court Execution Division, Isah Serunkuma issued the first garnishee orders on November 20, 2019. The order stemmed from a miscellaneous application filed by 13 Mulago Paramedical students who in 2011 sued Government over the delayed award of their diplomas and certificates.
In his presentation on Tuesday evening, the Finance Committee Chairperson, Henry Musasizi explained that the Bank of Uganda Act, 2000 provides that government is authorized to issue securities for recapitalising BOU where its capital impaired.
In a statement issued on Tuesday, the BoU Governor, Emmanuel Mutebile said: "The public is advised to accept only those notes that bear features as designed by Bank of Uganda."
In an August 8, 2019 letter, FIA directs Equity bank to “search your databases and avail us account opening documents, bank statements for the last three years and any other information available to you linked to each of the above-listed entities for further review,” reads the letter signed by Sydney Asubo, the FIA Executive Director.
According to the Bank of Uganda act, the Central Bank Governor who is also the most senior officer in the bank also chairs the board of directors and deputized by the Deputy Governor. The other members are the Secretary to the Treasury and directors from different departments in the bank.
Dr Louis Kasekende, the Bank of Uganda Deputy Governor, says that the Central Bank has not been monitoring loans transactions on mobile money platforms because the Telecoms had also not been given licenses to offer products to clients.
