The closure of Teefe Bank, Greenland Bank, and Crane Bank had a significant impact on the Ugandan banking sector. They led to a loss of confidence in the banking sector …
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Banking & SavingsEconomicsFinanceLatest NewsNews
Bank of Uganda Issues First Islamic Banking License
Just a month after President Yoweri Museveni assented to the Financial Institutions (Amendment) Act 2023 to clear all the legal roadblocks to the commencement of Islamic banking products in Uganda, …
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Banking & SavingsEconomicsFinanceFintechLatest NewsNewsTechnology
What Happens to Unclaimed Money on Deceased Individuals’ Mobile Money Accounts?
When a mobile money account remains dormant for 15 months, the telecommunications company initiates a process to transfer the money on that account to Bank of Uganda. This action is …
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Butambala County Member of Parliament, Muwanga Kivumbi has been granted leave of Parliament to present a modification to the Public Finance Management Act 2015. This amendment primarily suggests that any …
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The World Bank announced on Tuesday, August 8, 2023, that it was suspending any new funding of projects in Uganda, and would review the ongoing projects over Uganda’s passage of …
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The Law Revision (Miscellaneous Amendments) Act 2023 which was assented to by the President on 10th May 2023 is a crucial learning point in Uganda’s legal landscape. This Act provides …
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In an effort to tackle the escalating public debt crisis, the government has announced four fiscal consolidation measures aimed at managing and reducing the nation’s debt level. They include; controlling …
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In May 2023, UMEME Limited counter dominated monthly activity, accounting for 67.91% of the total Uganda Securities Exchange (USE) turnover followed by Stanbic Bank Uganda (SBU) with 21.56%. In third …
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The Speaker of Parliament, Anita Annet Among, during a Parliamentary sitting on June 29, 2023, informed lawmakers that President Museveni had assented to six Bills that had been passed by …
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Parliament has imposed a tax on companies reporting losses for more than seven years with 50 per cent of the losses carried forward now being subject to tax in new …