Fraud threatens the continuity of financial institutions, could lead to the loss of their capital, and undermines the integration of the financial system. 

The gold will be bought by the local mining companies and refined to a minimum of 99.5% purity levels before being turned into administrative monetary gold.

“All creditors are requested to submit their claims to the office of the Director, Financial Stability, and Bank of Uganda within 30 days from the date the statement was issued, and any person possessing property of Mercantile Credit Bank Limited should deliver it to the director, Finance and Stability, Bank of Uganda.”

Some Ugandan economists have blamed the International Monetary Fund (IMF) and the World Bank for the continued delay in...

The Bank of Uganda (BOU) and Deposit Protection Fund (DPF) have established mechanisms to ensure that depositors attached to...

The Bank of Uganda’s monetary policy committee has maintained lending rates at 9.5 percent for the month of October. According...