BOU governor commends Judiciary after settling banking disputes
Atingi-Ego gave the vote of thanks to the Judiciary during the commercial court mediation fortnight review meeting at the Supreme Court conference hall in Kampala on Friday (July 24).
The Bank of Uganda (BOU) governor, Michael Atingi-Ego, speaking during the commercial court mediation fortnight review meeting at the Supreme Court conference hall in Kampala on Friday (July 24). (Photos by Mpalanyi Ssentongo)
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The Bank of Uganda (BOU) governor, Michael Atingi-Ego, has commended the Judiciary for re-engineering alternative dispute resolution (ADR) mechanisms such as mediation in administration of justice, which he said is the most suitable mechanism for resolving commercial disputes.
This comes after the Judiciary resolved banking disputes worth sh90 billion through mediation in a space of two weeks.
Atingi-Ego gave the vote of thanks to the Judiciary during the commercial court mediation fortnight review meeting at the Supreme Court conference hall in Kampala on Friday (July 24).
Atingi-Ego regretted that too much of Uganda’s capital remains idle over legal disputes.
“Capital is like blood; it serves the body only in motion. So, I urge the Judiciary to screen the cases at the time of filing and identify those suitable for mediation to avoid delay."
He hailed the partnership between the central bank and the Judiciary, saying it has enabled them to fix some of the issues that have been leading to legal disputes.
“BOU came on board not only as the convener but as a litigant. In our capacity as a regulator, you brought forward issues that concern our sector. Now, parties who want pre-payment plans no longer come to court for litigation because they just sit and agree,” said Atingi-Ego.
Principal Judge Jane Frances Abodo commended Atingi-Ego for mobilising the commercial banks to embrace mediation.
“We cause-listed 527 cases for the mediation settlement fortnight and we were able to complete 417 cases translating into 79.73% success rate,” said Mugenyi.
She announced that the court’s next mediation fortnight will focus on trade related cases and will start on August 17 and run until August 29. Approximately 500 trade-related cases are expected to be cause-listed during the exercise.
The judge urged mediators to begin preparations early and ensure timely service of hearing notices to minimise unnecessary adjournments and maximise settlement opportunities.
Principal Judge Jane Frances Abodo commended Atingi-Ego for mobilising the commercial banks to embrace mediation.
She said mediation is now a powerful tool for justice delivery in the country.
Hon. Lady Justice Patience Rubagumya awarded for emerging the best Judge Mediator.