Banking & Savings

Bank of Uganda (BOU) revoked Friday the license of EFC Uganda Limited and placed the Microfinance institution under liquidation therefore issuing an order for them to close up shop. Under …

Acquiring positive savings habits is among the most effective methods to assume control over your financial well-being. However, many individuals often discover that despite having sufficient funds for their immediate …

The emergency and widespread adoption of mobile money and agent banking services in Uganda has unquestionably captured the interest of millions of Ugandans. A huge number of Ugandans now consider …

Ugandan commercial banks’ total assets grew by 8.4 percent from 44.6 trillion shillings as at end-June 2022 to 48.3 trillion shillings as at end-June 2023, the Bank of Uganda has …

In a remarkable turn of events, banks and other closely monitored financial institutions have witnessed a staggering surge in compensations tied to customer grievances, a clear indicator of elevated risks …

Customers who choose to pay off their bank loans ahead of schedule, or prior to the agreed-upon repayment period, will not be subjected to any penalties or adverse repercussions, the …

Despite recent allegations of mismanagement, abuse of office and corruption at the East Africa’s biggest pension Fund, the National Social Security Fund (NSSF) that resulted into the Inspectorate of Government …

Finance Minister, Matia Kasaija, has declared a 10% interest rate for the National Social Security Fund (NSSF) savers for the Financial year 2022/2023. The NSSF savers’ interest rate for the …

On Friday 08th September 2023 the Bank of Uganda issued the first-ever Islamic Banking License to Salaam Bank Limited. This follows President Yoweri Museveni’s signing of the Financial Institutions (Amendment) …