Central Banking

Bank of Uganda introduces new cheques

UGANDA - Bank of Uganda (BOU) has announced the introduction of new cheques in a bid to standardise and improve the cheque operation system.

The introduction is part of the new national payment system adopted in December 1999 by Bank of Uganda in conjunction with commercial banks.

According to the bank's deputy director of public relations, Sam Katwere, the new system aims at strengthening risk management as well as improving and quickening efficiency in the cheque clearance process not only f

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