Bank of Uganda head rebuffs banking crisis rumour

UGANDA - Bank of Uganda Governor Emmanuel Tumusiime Mutebile has firmly quashed rumours that the banking sector might again be in crisis.

"There is definitely no bank that is near closure," the central bank boss said Tuesday. He was reacting to widespread rumours in Kampala that one or more banks might be in financial trouble.

"A few banks are weak in management terms but not in terms of their balance sheets," he said.

"There are only minor issues with these banks. If they were major issues, we