Bank of Uganda's powers trimmed by parliament

The central bank of Uganda has lost the power to control capital requirements for commercial banks after parliament voted to amend rules under the Financial Institutions Bill.

Source: The Monitor

Parliament has reduced the powers of the central bank in fixing and reviewing the minimum capital requirements for commercial banks. Any changes will require the approval of Parliament, according to Section 26 of the Financial Institutions Bill 2003 that was passed by Parliament on Wednesday.

The Bank o