Bank of Uganda sold closed banks using British laws
3,654 views · Published 21 November 2018 · 3:55 · Indexed 12 October 2026
Channel: NTVUganda · 2018 · News & Politics
Bank of Uganda officials signed agreements with companies that sold the loan assets of the defunct Greenland, Cooperative Bank and International Credit Bank using the laws of Britain. This emerged as the parliamentary Committee on Commissions, Statutory Authorities and State Enterprises interfaced with senior officials of the Central Bank in the ongoing probe into the closure of seven commercial banks The MPs were concerned that the decision undermined and overthrew Uganda’s legal regime since any disputes arising from the transaction on the liquidated assets would be resolved in the UK under British laws. The committee is investigating irregularities in the closure of seven banks as highlighted by a special audit by the Auditor General. #NTVNews Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Like our Facebook page http://www.facebook.com/NTVUganda
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