Rédaction Africa Links 24 with Uganda Monitor
Published on 2024-08-02 15:50:23
Bank of Uganda has since the start of this year closed two financial institutions classified as credit or tier II institutions over capitalisation-related issues.
The latest is Mercantile Credit Bank Limited, which was on June 18 placed under liquidation, its licence revoked and an order given for the winding up of its affairs. The other is EFC Uganda Limited, which was also closed by the Bank of Uganda in June for failing to meet minimum capital requirements.
These join others such as Greenland Bank, Teefe Bank, International Credit Bank, National Bank of Commerce, Global Trust Bank…
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