Site icon CEO East Africa

Banks to stop penalising borrowers for early loan repayments this week

Muhereza Kyamutetera Muhereza Kyamutetera

Dr. Michael Atingi-Ego (left) and Dr. Tumubweinee Twinemanzi the Central Bank Deputy Governor and Executive Director, Bank Supervision respectively have put the SFIs under regulatory pressure to stop the unpopular early repayment charges on outstanding loans.

This week, starting on December 1st 2023, millions of Ugandan borrowers from Supervised Financial Institutions (SFIs) have cause to smile. The SFIs, under their Uganda Bankers Association (UBA), will cease…

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

Exit mobile version