COSASE summons Mutebile to Answer Queries of loss of Property during the closure of Seven Commercial banks.

Munyagwa-Mubarak--the-Mayor-of-Kawempe--2

The Parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) has summoned the Central Bank Governor, Emmanuel Tumusiime Mutebile, to answer queries of loss of property during the closure of seven commercial banks. The summons follow the failure by the Governor to appear before the Committee on three occasions. Mutebile was invited to appear before the committee to answer queries of the loss of properties by some individuals during the closure of seven commercial banks. The banks that were closed between 1993 and 2016 include Teefe Trust Bank, International…

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The tragedy of loosing trust in a financial system.

crane bank

  With the hindsight of not writing out of sub-judice on the existing court cases concerning the closure of Crane Bank; the common man, tomorrow’s investor and potential venture capitalist have cultivated unanswered questions regarding the closure of Crane Bank. They are interested in working with and under a system that they can trust. As it stands now, the trust meters are at an all-time low. How appropriate was the Bank of Uganda response? (Given the circumstances). Was it fair?  Was it punitive? Or just plain malicious? For that matter.…

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