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If no claim is lodged for a closed electronic or mobile money account within seven years, the National Payment Systems Act indicates, the unclaimed balances shall be transferred to Consolidated Fund
Daily Monitor Thursday May 27 2021 Summary Mobile money companies, which already operate payment service providers and payment systems operator platforms, will be required to obtain two licences each at Shs25m. Advertisement Bank of Uganda has set Shs25m as the amount that telecoms will have to pay in annual licence to operate as a payment service providers or payment systems operator. The two services are classified separately, which means that a telecom that wishes to operate both will have to pay a combined sum of Shs50m annually. Telecoms are already operating as payment service pro...
Daily Monitor Tuesday April 20 2021 Witnesses point at a spot on a car that was shot by armed thugs who attacked a shop in Nansana-Ganda, Wakiso District in January. Five people were killed during the robbery. PHOTO/FILE Summary In 2020, the biggest fraction of money or property valued at Shs11.5t was lost in economic crimes, the report notes. With many of the 2020 economic crimes still unresolved, financial institutions have urged the government to strength investigative capacity of crime prevention institutions, as well as the criminal justice system, to detect, prevent, investigate and ful...
December 30, 2020 Written by Frank Kisakye Lydia Nakamya (L), head of Digital Banking and Client Experience, Standard Chartered Bank, receives the Digital Brand of the Year award from Dr Maggie Kigozi The coronavirus pandemic lockdown may have led to an unprecedented uptake in digital financial solutions as business processes moved online. However, Ugandan banks, te...