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 written judgement to determine an appropriate response.
“We await the detailed written judgement of the Court to assess its implications and to determine an appropriate response thereto, including any future actions with regard to the matter,” he says, adding:
“Bank of Uganda would like to reassure all stakeholders and the general public that the BoU remains committed to ensuring a resilient, sound and stable financial sector.” Yesterday, the Uganda Bankers’ Association called upon stakeholders, including Bank of Uganda, the industry regulator, to come out and pronounce themselves on the judgement which the association says has sent shock waves across the entire banking industry.
