By Our Business Correspondent
DailyNewsUG |BANKING| Bank of Uganda governor Prof. Emmanuel Tumusiime Mutebile together with his deputy Louis Kasekende are today appearing before the parliamentary Committee on Commissions, State Authorities and State Enterprises (COSASE), to answer for the irregularities in the sale of commercial banks.
The irregularities were cited in the Auditor General’s report which indicated that in the sale of seven commercial banks, the central bank failed to follow any guidelines/regulations or policies that govern the same.
The central bank was represented by Mutebile and his Deputy Louis Kasekende who appeared appearing before the parliamentary committee on Commissions, Statutory Authorities and State Enterprises (COSASE) to respond to queries by the Auditor General’s report on controversial closure of 7 Banks that include;
- Teefe Bank (1993),
- International Credit Bank Ltd (1998),
- Greenland Bank (1999),
- The Co-operative Bank (1999),
- National Bank of Commerce (2012),
- Global Trust Bank (2014)
- and the sale of Crane Bank Ltd (CBL) to dfcu (2016) at Shs200bn.