Browsing: CRANE BANK LTD

Half a Decade After Fraudulent Take Over Of Powerful Crane Bank, Staggering Dfcu Bank Stuck In Limbo

Recently, the board of DFCU Bank Limited appointed Dr Winifred Mary Tarinyeba Kiryabwire as the Board Chairperson amidst the bank’s staggering status that has seen it losing millions of customers. Remember that Winifred’s appointment was after the bank releasing its 2021 results showing it had lost UGX313 billion or 12% of its customer deposits. Deposits,…

What Next For Sudhir & Staggering BoU, Two Months after Landmark Ruling in Crane Bank case

The decision by the Supreme Court of Uganda that Crane Bank Ltd reverts to owners Sudhir Ruparelia and co-shareholders raised public excitement, for various reasons, including an assumed return of the bank into the banking industry. There were concerns about the financial implications of the decision on the national Treasury and on Ugandans generally, while…

MS MARGARET KAGGWA KASULE ON SPOT: Here Is Why Bank of Uganda Legal Boss Must Be Held Responsible For The Court Gamble

Last week’s landmark victory for billionaire Sudhir Ruparelia against Bank of Uganda in the battle for the ‘Crane Bank’ was expected. The ruling however left many asking who was advising the Bank of Uganda on legal matters. This follows the assessment of several accountability and legal agencies in the country including the Auditor General’s office…

How Closure Of Commercial Banks Exposed Rot & Sealed Kasekende’s Chances Of Succeeding Mutebile

Dr Louis Kasekende, the former Bank of Uganda (BoU) deputy governor, has no chance of bouncing back to that institution as Governor, following the death of Prof. Emmanuel Tumusiime-Mutebile. Not long ago Kasekende was considered an automatic heir to late Mutebile as Governor. Having read our exclusive article on the potential replacements for Mutebile, some…

BIG STORY: Supreme Court Dustbins BOU Appeal Against Sudhir, Meera Inv’ts – Ordered To Cough Billions In Costs & Return His Bank

The Supreme Court in Kampala has dismissed the appeal filed by Bank of Uganda – BoU ( in Crane Bank Receivership) against Businessman Sudhir Ruparelia and Meera Investments Limited as the five-year court battle comes to a grand end. In a ruling delivered on Friday, February 11, 2022, Supreme Court ruled that BoU reverts Crane…

Big Story: Legislature Moves To Kick BoU Top Officials Out Of Juicy Positions Over ‘Dubious Sale Of Crane Bank, Seven Commercial Banks’

The Parliament of Uganda through Igara East Member of Parliament, Hon Michael Mawanda is working on a, ‘Constitution (Amendment) Bill, that seeks to, among others, remove the Governor and Deputy Governor of Bank of Uganda from being Chairperson and Vice Chairperson respectively of the Central Bank. According to Hon. Mawanda, the decision making authority is…