Ibrahim Kasirye the Director of Research at the think tank said women still lack simple things like the National Identity Card which are vital for account opening or accessing digital financial services. He says many women also need permission from their spouses to open a bank account.
Kiryowa Kiwanuka, the Attorney General explained to the House that maintaining in the Financial Institutions Act a provision for the Shariah Advisory Council would complicate the Central Bank’s supervisory mandate over a product it has helped to create.
Cephas Birungyi, a Team Leader at Birungyi, Barata & Associates and a representative of the Uganda Law Society underscored the need for a cautious approach in implementing the proposed legislation on Islamic Banking.
Goods manufactured in Uganda for export to the region include construction products like cement, steel bars, iron sheets, and paint, among others. Fast-moving consumer goods include scholastic materials, personal care products like cosmetics, textiles, foam products etc.
According to the latest survey by Twaweza’s Sauti Za Wanainchi, market prices for staple foods have risen sharply approaching levels of 2017 when the East Africa region experienced food insecurity due to drought.
Speaking at the flag-off, the Uganda Vintage Car Club President, James Ayo, said that many of them have been forced to re-register their cars using the current registration and number plate series when changing ownership or acquiring vehicle insurance.
Alfred Okwonga, the Gulu City Lord Mayor says that the unpaid bills accumulated over the last five months following the failure by the Ministry of Finance to remit the City operation funds within the specified periods.
"The change of the office bearer or the demise of the person who signed banknotes as Governor does not in any way affect the validity or legal status of the banknotes he or she signed," a statement from the Bank reads.
According to Stephen Ochola, the Serere District LC V Chairperson, Elangot has been chasing for his pension in vain. He said that it was embarrassing for a civil servant at the rank of deputy governor to die pleading for pension yet he served the country diligently.
The BoU Executive Director for Research, Adam Mugume says that for now, the economic growth is expected to be slower by 0.5% unless the pandemic worsens in the short term.
Seventy-five-year-old Bicentina Alal and her 80-year-old husband Tito Okema, have been saving money in a metallic case for over three years. The couple lives with their six grandchildren in Kali-Kali Village in Rec Iceke Parish in Layima Sub County, which is about 50kilometers away from Gulu City Centre.
Dr Adam Mugume, the Executive Director for Research Bank of Uganda says that banks incur expenditures to offer services and there is a justification for users of these bank services to contribute to the running costs.
Bank of Uganda’s Executive Director for Research, Dr Adam Mugume says if the 2021/2022 budget proposals are passed, the total outstanding debt of the country will rise to Shs86.9 trillion, which will be 52% of the GDP.
The legal Committee of Parliament has rejected a proposal to have the Deputy Governor Bank of Uganda (BoU) serve for a maximum two terms of 10 years while the Governor’s term is unlimited.
“BoU will extend for six months effective from 1st April 2021 the Credit Relief Measures (CRM) and also maintain the Covid-19 Liquidity Assistance Program (CLAP) to supervised financial institutions.
BoU will review CLAP from time to time as the pandemic evolves to ensure viability of solvent supervised financial institutions that may come under liquidity stress during the pandemic and to support credit extension”, said Deputy Governor, Michaeil Atingi-Ego.
The Central bank is worried for the financial sector and the economy as a whole, because the relief measures were temporary and soon, the borrowers will bear the cost of repaying the loans.
Tumubweine also says the government will have to increase its borrowing from the domestic market because of the big budget financing gap left by the local revenue mobilization and the external sources.
In the 10th edition of the Agriculture Finance, Year Book developed jointly by the Ministry of Finance, Planning and Economic Development, the Bank of Uganda and the Economic Policy Research Centre, the focus is on the small agriculture entrepreneurs.
