Bank of Uganda (BoU) is seeking to hire an independent audit firm that will carry out a comprehensive audit on the current state of affairs of the now-defunct Crane Bank, six years after the same commercial bank was closed. According to an advert published in one of the local newspapers, BoU said it is now…
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,…
Minutes after legally slaying Bank of Uganda, for the ninth time, but this time for good, Dr. Sudhir Ruparelia, hit at certain officials of the central bank for stealing his bank, unnecessarily dragging him to court and prolonging the case for selfish gains. “These people stole my bank. They shared the legal fees in Bank…
The controversy between Crane Bank and Bank of Uganda came to an end after businessman Sudhir Ruparelia obtaining a final Supreme court order allowing him to revert Crane bank back to its shareholders. In January 2017, Crane bank was acquired by dfcu bank at Shs 200 billion after the central bank ruled that it was…
The Supreme Court decision directing that Crane Bank Ltd be reverted to its owners has raised a lot of mixed feelings, for it comes with a legal and cost implication which in one way or another will affect the ordinary Ugandan. The costs associated with the case will naturally be forked from the consolidated fund…
