Ugandan banks cautioned on margin fixing

The deputy governor Bank of Uganda (BOU), Dr Louis Kasekende, has warned commercial banks not to form cartels, in order to fix margins.

"For our markets to become sophisticated, the sector has to develop new products. An efficient and developed market is key to market competition, which would lead to lowering margins in the sector. BOU is of a view that the sector should not have cartels where margins remain fixed for long time otherwise the public will agitate for intervention from the centra

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