Politics

Gen Tumwine Cautions New MPs on Bank Loans

Uganda Peoples Defense Forces (UPDF) representative in Parliament Gen. Elly Tumwine has advised newly sworn-in Members of the 10th Parliament not to rush to pick loans from Banks and other financial institutions, doctor http://crunchydomesticgoddess.com/wp-content/plugins/jetpack/functions.gallery.php which he said are targeting their big earnings.

Tumwine told ChimpReports  that for the many years he has been in parliament, check http://comeduraredipiu.com/wp-content/plugins/thrive-leads/editor-templates/lightbox/44_set_vms_step2.php he has witnessed bank loans wreck the lives of legislators more than anything else.

“We are telling MPs to first wait before taking loans so that we advise them on managing their finances. For the purposes of borrowing, stuff http://contentisbae.com/wp-admin/includes/template.php they could wait as we also agree with the banks first on the best deals.”

Tumwine’s counsel was in reference to the number of Banks which have pitched camp at the parliamentary building to entice the new MPs to bank with them.

Several banks have pitched camp at Parliament to entice new MPs to open up accounts with them.

Several banks have pitched camp at Parliament to entice new MPs to open up accounts with them.

“We advise banks that if they could agree to give us a plus one on CBR (Commercial Bank Rate) that would be good enough.”

“Although Members of Parliament are very excited about taking loans, they ought to be aware of what they are signing up for.”

He further advised,  “Be cautious, borrow what you can pay and look for banks with the lowest interest rates as we also mobilize to get the best for them.”

 

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