An assessment of the legal framework on banking and how it has helped to induce economic growth in Uganda: case study of Kampala District
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Date
2012-08
Authors
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Publisher
Kampala International University; School of Law
Abstract
Banking is one of the crucial industries in nurturing economic growth or development of a country that is why it is important to regulate the activities of banks by the central bank of a country. In Uganda the Central Bank of Uganda is charged with responsibilities of regulating the banking industry. The central bank regulates other banks by requiring them to have an operating license, maintaining minimum capital requirements, liquid assets, prohibits banks from engaging in some business such as insider lending, among others. Good regulatory framework on banking can help to induce economic growth for instance by encouraging both foreign and local investors who can create jobs, encourage saving habit, and ease financial transactions, etc. But there are challenges facing the banking industry they include but not limited to cybercrimes, poor bank branch networks, e-banking heavily relies on public telecommunication networks which threatens banks' efficiency in case of natural and manmade disaster. However, this work has suggested possible solutions to tackle those challenges they include but not limited to the need to enact punitive legislation to punish those who use technological advancement to cause financial loss to banks, leveraging bank branch network.
Description
A dissertation submitted to the School of Law in partial fulfillment of the requirements for the Award of the Degree of Bachelor of Laws of Kampala International University
Keywords
Legal framework on banking, Economic growth, Kampala District, Uganda