Company News

Bank of Uganda Governor on Commercial Court Ruling against DTB: We are committed to ensuring a resilient, sound and stable financial sector

Following a lengthy court process that exposed both the incompetence of the legal team at the central bank and the massive flaws within its regulatory practices especially in the way several banks were taken over, closed and sold, under Mutebile’s watch or lack thereof, the central bank’s much publicised case against the billionaire businessman has crumbled like a pack of cards. It remains to be seen how much more the central bank will lose in terms of legal costs.

Bank of Uganda governor Emmanuel Tumusiime-Mutebile has come out about the Wednesday judgement in which Diamond Trust Bank was ordered to pay businessman Ham Kiggundu UGX130 billion. “Bank of Uganda (BoU) has taken note of the judgement of the Commercial Division of the High Court in Misc. Application No. 654 of 2020 and High Court Civil Suit No. 43 of 2020 involving M/s Ham Enterprises and Others –Vs- Diamond Trust Bank (U) Ltd and Another, which was delivered on October 07, 2020,” the governor says. In a statement released today, the governor says the Central bank is awaiting a detailed…

This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!

Tagged:
beylikdüzü escort beylikdüzü escort