The Bank of Uganda is launching a new automated cheque-clearing system on April 20, which it says will offer “huge benefits to the financial sector”.
The new system will have full “cheque truncation capability”, involving the exchange of electronic images of cheques instead of the physical instrument.
“The entire country will have access to a single, centralised cheque-clearing platform, as opposed to the current decentralised and unaligned platforms,” the central bank says.
Under the new arr
- A route to economic growth – The Belt and Road Initiative 2018 survey
- ECB will ‘accelerate efforts’ to tackle staff concerns after second survey
- After the Congress – Interpreting China’s new development concept
- Asian Infrastructure Investment Bank – Raising expectations
- Do not discount central bank digital currency yet – Lagarde