Bank of Uganda lowers cheque value limits by half
BoU Deputy Governor, Dr. Michael Atingi-ego. Fred Muwema argues that there can’t be a functioning deputy Governor when there is no functioning Governor to deputize.
Bank of Uganda (BoU) has reduced by half the maximum value that can be written on cheques to banks and other financial institutions.
Currently, amounts written on cheques are limited to a maximum value of Shs20 Million per transaction for exchange of instruments by commercial banks in the clearing house. The clearing house clears and settles cheque transactions on a daily basis.
But in a let
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