MPs Quiz Mutebile On Bank Closures
Sep 09, 2002
Members of Parliament have asked Bank of Uganda governor Emmanuel Mutebile to clarify remarks he made about two more banks being at risk of seizure by the central bank.
By John Odyek
Members of Parliament have asked Bank of Uganda governor Emmanuel Mutebile to clarify remarks he made about two more banks being at risk of seizure by the central bank.
The MPs said on Saturday that two local commercial banks were experiencing huge withdrawals by depositors following the statement made last week.
TransAfrica Bank Ltd was last week seized by the central bank.
The MPs said this at a seminar on the Financial Institutions Bill 2002 at the Imperial Botanical Beach Hotel, Entebbe.
The Bill is intended to repeal the Financial Institutions Statute 1993 which is said to be inadequate in regulating financial institutions.
Parliament’s finance committee chairman Prof. Ephraim Kamuntu (Sheema South) said the BOU governor should name the banks.
James Mwandha (disabilities) said Mutebile’s statements were unfortunate while Geoffrey Ekanya (Tororo) said the Bill should include a penalty for Governors.
Ends
Members of Parliament have asked Bank of Uganda governor Emmanuel Mutebile to clarify remarks he made about two more banks being at risk of seizure by the central bank.
The MPs said on Saturday that two local commercial banks were experiencing huge withdrawals by depositors following the statement made last week.
TransAfrica Bank Ltd was last week seized by the central bank.
The MPs said this at a seminar on the Financial Institutions Bill 2002 at the Imperial Botanical Beach Hotel, Entebbe.
The Bill is intended to repeal the Financial Institutions Statute 1993 which is said to be inadequate in regulating financial institutions.
Parliament’s finance committee chairman Prof. Ephraim Kamuntu (Sheema South) said the BOU governor should name the banks.
James Mwandha (disabilities) said Mutebile’s statements were unfortunate while Geoffrey Ekanya (Tororo) said the Bill should include a penalty for Governors.
Ends