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BOU invites Mercantile Bank large depositors for payment
In accordance with the Financial Institutions Act, initial payments will commence after the compilation of the bank’s assets and liabilities report.
BOU shut down MCBL in June 2024 citing the lender’s inability to address its undercapitalization, poor governance, and insolvency.
By: NewVision Reporter, Journalists @NewVision
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KAMPALA - Following the liquidation of Mercantile Credit Bank Limited (MCBL), the Bank of Uganda (BOU) has collected proceeds and is set to make an initial