Parliament has given Bank of Uganda officials one week ultimatum to avail procedures, manuals and the list of the then board members who presided over meeting about controversial closure of seven commercial banks.
The Legislators want a full report on controversial closure of seven Banks that including 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 controversial sale of Crane Bank Ltd (CBL) to dfcu Bank (2017) at Shs 200bn.
Appearing before parliamentary committee on Commissions, Statutory Authorities and State Enterprises (COSASE) chaired by Bugweri County MP Abdu Katuntu, officials were tasked to produce Inventory report, customer deposits, loan schedules and other supporting documents before and after the closer and sell of these banks.
Katuntu said, the process is aimed at seeing that in case any other bank is to close in the future, the processes are handled better and with accordance to the law.
He added that the probe which has already attracted public attention will be handled professionally and that the committee will discuss the closure of banks in a sequence following the year of closure.
The Kasilo County Member of Parliament, Elijah Okupa tasked BoU officials to provide reports from bank supervision departments for at least two years before the closer of these banks.
COSASE Vice Chairperson and Woman Member of Parliament for Bukedea District Anita Among, said officials should also come along with the minutes of all previous meetings under the subject to matter for closer and selling of the banks.
However, the governor of the Bank of Uganda, Emmanuel Tumusiime Mutebile, said they have all the alluded copies answering all the queries raised by committee members and asked for two working days to table them before committee which was accorded to them.
It is quite impossible to reply to these demands within a day. We need a couple of days [to submit the documents]. We seek for more time so that we submit on Monday afternoon, Mutebile said.
The committee resolved to meet on November 12, to scrutinize and verify them as per the allegations fraud and acquisition, closer and selling of the defunct banks.
Source: www.mknewslink.com a greater western Uganda news website