Sunday, June 30, 2024

HUMONGOUS LIQUIDITY TURNOVER: PATIENT CAPITAL HANDSHAKE BOOSTS PLOUGHED BACK EARNINGS FOR PARTICIPATING COMMERCIAL BANKS

BoU tasks commercial banks to take serious measures against under capitalisation


The Central Bank has tasked commercial banks to implement risk management practices and controls to prevent under capitalization.




The Bank’s Director of the Pension and Administration department Ralph Bakashabaruhanga says banks should avoid disappointing and abusing their depositors trust.





He advises that commercial banks ensure rigorous internal controls that help them to control fraud among other measures.

This follows the closure of Mercantile Credit Bank last week and EFC Uganda in January due to “serious issues that put customer savings at risk.

“These institutions failed their depositors, employees and broader financial due to under capitalization, poor cooperate governance and insolvency, these are not isolated incidents these representor preterm of government failures that have been and enduring cause of banking sector instability in Uganda,” Mr. Bakashabaruhanga commented.

Bakashabaruhanga made the remarks while addressing students and officials from the Uganda Institute of Banking and Financial Services during their Annual General Meeting held in Kampala on Thursday.



SUPPLEMENT


TENETS OF TRUST LEGACY



GLOBAL SOUTH ALERTTRUST FROM SINCE MEDIEVAL ENGLAND, TO BEYOND AMERICAN DECLARATION OF INDEPENDENCE ON JULY 4, 1776.


TAGLINE: "TREASURE THE PEARL , RIDE SPECIAL MOBILITY."




VISION STATEMENT: "WHOLE BUSINESS SECURITIZATION (WBS) FOR AFRICA AND BEYOND."



UGANDA: SOROTI DISTRICT HOSTS THE INTERNATIONAL YOUTH DAY CELEBRATIONS – 2024

Corruption: You Don’t Have to Go on the Streets and Riot,  Museveni Tells Activists Theme: “Skills Development for enhancement of youth opp...