Bank of Uganda has kickstarted a process to increase capital buffers for Commercial Banks, Credit Institutions and Micro-Deposit Taking Institutions, a move it says is both timely and long overdue. CEO East Africa Magazine is privy to a letter written by the Bank of Uganda Executive Director, Dr Tumubweine Twinemanzi, which letter he has confirmed to be true, inviting Chief Executives of the above regulated institutions to discuss the matter on 26th August 2021. “In accordance with Section 26(5) of the Financial Institutions Act 2 and Section 15 (3) of the Micro Deposit-Taking Institutions Act 2003, Bank of Uganda (BOU)…
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