Analysis of bank of Uganda regulatory and legal framework governing commercial banks in Uganda.
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Date
2019-06
Authors
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Publisher
Kampala International University, School of Law
Abstract
This study set out to analyses the legal and regulatory frame work of Bank of Uganda focusing on the statutory frame work with the overall aim of suggesting strategies to improve the regulation of financial institution in the current regime. The study was guided by the following
Objective; To analyze the legal and Institutional Frame work in Commercial Banking in Uganda with a view of finding out how adequately they manage the affairs of commercial Banks in a bid to protect Public Funds from being miss appropriated; To determine the Efficacy of the present banking rules and regulations with a view of identifying the weakness in the legal frame work that may call for amendments; To identify the legal and non-legal challenges facing the Banking Sector in Uganda with the aim of determining how such challenges can be addressed.
The required data was collected from Libraries and internet sources on matters concerning commercial Banking Sector.
The study thus revealed and recommends that the Bill of Exchange Act and regulations under the act should be amended to Bolster and upgrade the legal framework commercial Banks.
There is need to improve and tighten regulation under the financial institution act 2004 as amended in 2016 so as to govern the quality and effectiveness of Bank Supervision and regulations. The supervision and regulation of the Banking Industry will also be few and impartial other than a system that gives preferential treatment to certain Individuals or Institutions thus eroding the confidence in commercial Banking Industry.
There should be stringent checks on the History, stability and Integrity of pension owners and managers of commercial Banks among others
Description
A Report Submitted to the Faculty of Law in Fulfillment of the Requirements for the Award of a Bachelor in Law of Kampala International University
Keywords
Bank of Uganda, Regulatory and legal framework, Commercial banks, Uganda