Regulatory Alerts2022-06-01
Guidance to Supervised Financial Institutions Following Security Developments in Kampala City
The Bank of Uganda issued this circular to require supervised financial institutions to adopt enhanced security measures and increase vigilance following recent Kampala City explosions. The regulator grants approval for temporary premises closures to protect staff and customers, mandating immediate notification regarding the closure's nature and duration. These directives apply to all supervised entities, including commercial banks, credit institutions, microfinance deposit-taking institutions, and forex bureaus, across all domestic and Kampala locations.
BANK OF UGANDA
OFFICE OF THE EXECUTIVE DIRECTOR SUPERVISION
37-45 KAMPALA ROAD, P.O. BOX 7120, KAMPALA
DIRECT LINE: 256-414-230051 GENERAL LINE: 256-414-258441 Ext 2403 FAX LINE: 256-414-258515 TELEX: 256-414-61059
CABLES: UGABANK Email: info@bou.or.ug Web site: www.bou.or.ug
EDS.306.2
16th November 2021
Circular to Chief Executives of Commercial Banks, Credit Institutions, Microfinance Deposit Taking Institutions and Forex Bureaus
Guidance to Supervised Financial Institutions following Security Developments in Kampala City
Following the explosions which took place in Kampala City on 16th November 2021, security agencies have advised all businesses and offices within the city to increase vigilance and enhance security measures at their premises.
In view of the foregoing, Bank of Uganda (BOU) advises all Supervised Financial Institutions (SFIs) to adopt the requisite security measures to ensure the safety of their staff, customers and premises at all locations both within and outside Kampala City.
Additionally, as the security situation continues to unfold, BOU hereby grants approval to any SFI, which may need to temporarily close its premises in order to secure its staff and customers. The institution shall immediately notify Bank of Uganda of the nature and duration of such closure.
Yours faithfully,
RNMbabazize Robert Mbabazize Ag. Executive Director Supervision
Copy: Governor Deputy Governor Director Commercial banking Director NBFI
Mission: To Foster Price Stability and a Sound Financial System | Vision: To be a Centre of Excellence in Upholding Macroeconomic Stability