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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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 …
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Global NewsLatest NewsNews
Uganda Under Tight Surveillance over Money Laundering, Terrorism Financing
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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