Bank of Uganda Archives – Page 14 of 25

Cryptocurrency operators defy call to register with intelligence agency

by CEO ReporterNews & AnalysisMay 26, 2021May 26, 2021

The Financial Intelligence Authority (FIA) has expressed frustration over failure by cryptocurrency operators to register with the government agency.Cryptocurrency trading, also known as mining, is a growing global wave which is increasingly tilting the traditional global financial system.But Sydney Asubo, the FIA executive director, says they have been asking cryptocurrency…

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Bank of Uganda issues licences to payment service providers Airtel Mobile Commerce Uganda Limited and MTN Mobile Money Uganda Limited

by CEO ReporterNews & AnalysisMay 24, 2021May 24, 2021

Bank of Uganda has commenced licensing of payment system operators, payment service providers and issuers of payment instruments.Payment service providers – also known as merchant service providers or PSPs – are third parties that help merchants accept payments.The licensing of payment service providers follows the enactment of the National Payment…

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April 30 – May 7, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterThe Big StoryMay 7, 2021May 7, 2021

The local currency continued on its upward trajectory, trading closer to a key resistance level of 3,550 as demand slumped. The Central open market operations also assisted in keeping market liquidity levels in check.In other market moving news, word was out that the Government of Uganda had applied to the…

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DUPLICATIONS: MPs unearth 19 allocations of similar amounts of money on different activities in the Ministry of Finance Work Plan

by Thembo Kahungu MisairiThe Big StoryApril 28, 2021April 28, 2021

The Ministry of Finance, the authority which is charged with the preparing of the national budget, has come under the spotlight over allocating similar amounts of money to different activities within its internal budget, something that has raised moral questions from the Members of Parliament.CEO East Africa Magazine has seen…

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April 16 – April 23, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceApril 23, 2021April 23, 2021

The Uganda Shilling was somewhat at crossroads, searching for fresh direction before making its next move as volatility was the order of business. Technical analysis of the market pointed to an oversold currency. Trading was in the wide range of 3590/ 3625.In the fixed income market, investors continued to see…

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Deputy BoU Governor urges Suppliers to Embrace Technology

by CEO ReporterFinanceApril 6, 2021April 6, 2021

The Deputy Governor Bank of Uganda (BoU), Michael Atingi-Ego has urged suppliers to embrace technology and invest in the required equipment, systems, and training because it will not be long before the Bank of Uganda’s procurement and disposal processes will be executed through the Government e-procurement portal.The Deputy Governor gave…

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Stanbic Bank pays UGX110 billion in dividends, continues to support clients as the economy recovers

by CEO ReporterCompany NewsMarch 24, 2021March 24, 2021

Stanbic Bank Uganda (SBU) has paid out a total of UGX110 billion to its shareholders for financial year 2019, continuing a long track record of returning consistently positive earnings despite prevailing challenges.At the peak of the Covid-19 pandemic last year, Bank of Uganda (BoU) directed supervised financial institutions to defer…

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March 12 – March 19, 2021: Weekly financial markets review and outlook with Stephen Kaboyo

by CEO ReporterFinanceMarch 19, 2021March 19, 2021

The local currency was firmer after marginal losses early in the week, with the recovery guided by subdued market activity as mid-month tax obligations took center stage. Trading was in the range of 3655/65.In the fixed income market, bonds edged weaker as navel gazing bond investors offloaded huge amounts of…

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MPs insist BoU must become more accountable; want governor and deputy governor’s powers split

by Muhereza KyamuteteraThe Big StoryMarch 18, 2021March 18, 2021

Members of Parliament, sitting on the Legal and Parliamentary Affairs Committee have insisted the Governor and Deputy Governor of Bank of Uganda cannot also coccupy the offices of Chairman and Deputy Chairman of the central Bank’s board.The MPs, despite, contrary views from the Central Bank itself, have stuck to their…

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Why the Government should rethink the Proposed Taxation of Bank Cash Withdraws

by CEO ReporterThought LeadershipFebruary 24, 2021February 24, 2021

By CPA Kalinda Gonzaga JosephPractitioner, Kalinda & AssociatesThe Government of Uganda through the Ministry of Finance, Planning and Economic Development on February 9, 2021 through a Budget Consultation letter ref TPD 95/167/01 Vol.3 written by Patrick Ocailap to the Governor Bank of Uganda shows that it was proposed in their…

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