Two private businesses, Biyinzika Enterprises and Dei Group of Companies, have recently had their assets advertised in the newspapers destined for public auctions. This happens when borrowers have defaulted on …
The overall goal of the budget for FY 2023/24 is to redirect more resources towards wealth creation by facilitating more Ugandans to join the money economy and accelerate the rapid expansion of the economy.
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)…
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…
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,…
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…
Uganda’s inflation rate as measured by the Consumer Price Index (CPI) has dropped to 3.9% in the 12 months leading up to July 2023, down from the previous 4.9% recorded…
Uganda has remained on the list of 26 countries put under increased monitoring (grey list) by the Financial Action Task Force (FATF) for moving slow to strengthen its financial systems…
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