Bank of Uganda has opened up on the decision by Barclays Bank Plc to reduce its shareholding in Barclays Africa Group Ltd which involves twelve (12) African countries including Uganda, more about http://centrodelasartesslp.gob.mx/home/wp-includes/date.php saying there is no cause for alarm.
“Further to the clarifications offered by Barclays Bank, information pills http://clinicapetterson.com.br/wp-admin/includes/file.php I wish to reassure the Ugandan public that the Barclays Bank Plc announcement does not affect the operations of Barclays Bank Uganda in any way and there will be no interruption to the services Barclays Bank Uganda Ltd extends to its customers, side effects http://cosmoveda.de/wp-content/plugins/woocommerce/templates/global/wrapper-start.php ” said the Central Bank Supervision Executive Director, Justine Bagyenda.
In a Tuesday statement sent to ChimpReports, Bagyenda further stated that, “The regulatory framework in Uganda ensures that any transitions of this nature are orderly and do not affect the soundness and stability of the financial sector as well as provision of financial services to customers.”
Barclays Bank Plc which currently owns 62.3 percent of Barclays Africa Group Limited (BAGL) thus controlling controls banks in several African countries including Uganda employs 45,000 people across Africa.
The financial institution’s dramatic steps to reduce its stake in BAGL stoked fears Barclays would cease operations on the continent.
The news reports compelled some suspicious customers to withdraw their savings from the bank.
Despite assurances from the bank that customers’ money remains in safe hands, analysts believe the drama surrounding the sale underscores high risks in Africa, low growth prospects and lost glow.
Bagyenda sought to calm nerves, saying Commercial Banks in Uganda are incorporated locally and function as independent subsidiaries and not as branches.
“As such, Barclays Bank Uganda Limited is an independent subsidiary of the Barclays Bank Africa Group (in which Barclays Bank Plc owns 62.3 percent and is fully incorporated and registered in Uganda. Being a subsidiary, Barclays Bank Uganda has its own capital base, management and an autonomous Board of Directors. This insulates the subsidiary from issues affecting the parent entity,” she assured.
The Financial Institutions Act 2004 as amended by the Financial Institutions Amendment Act 2015 and associated regulations provides for a clear procedure for the disposal of Bank of Uganda supervised financial institutions’ shares.
Bagyenda said if the shareholders of any bank choose to dispose off their shares, the Bank of Uganda will undertake the necessary process of vetting new shareholders to ensure they are fit and proper to run a financial institution in Uganda.
She maintained Barclays Bank Uganda Limited “remains solvent and liquid, “adding, “It is well capitalised with a capital adequacy ratio well above the statutory minimum of 8.0 percent. The banking sector in Uganda as a whole has a strong asset and capital base with a capital adequacy ratio of 18.8 percent, as well as a relatively low level of nonperforming loans of about 5.3 percent as at December 2015.”
The Central Bank which oversees the operations of Barclays said “there is no cause for concern arising from the media announcements by Barclays Bank Plc” and that, “Customers should therefore continue with their normal banking transactions without any anxiety.”
Bagyenda said Bank of Uganda is committed to “prudent supervision and regulation of financial institutions in order to ensure the stability and soundness of the financial sector, as well as the safety of customers’ deposits.”
State has asked High Court judge Alphonse Owiny- Dollo to convict the suspects in the July, prescription http://ckls.org/wp-includes/class-wp-walker.php 11, http://crcpallc.com/templates/uneedo_j25/warp/systems/joomla/layouts/mobile/login.php 2010 twin blasts in Kampala.
Thirteen people; Hassan Haruna Luyima, Hussein Hassan Agade, Idris Magondu, Mohamed Hamid Suleiman and Yahya Suleiman Mbuthia are charged with among others terrorism, murder and being part of the Al Shabaab terrorist group related to masterminding the twin blasts at Kyadondo and Ethiopian Village Restaurant in Kabalagala, that left more than 70 people who were watching World Cup finals dead.
Other suspects include Habib Suleiman Njoroge, Isa Ahmed Luyima, Abubaker Batematoy, Dr.Ismail Kalule and Seleman Hijar Nyamandondo.
In a summary of the evidence, the prosecution side led by Suzan Okalany and Lino Anguzo told court that it is very clear that the suspects who were well aware of what they were doing connived and hatched plans to bomb Kampala, having been part of Somalia based Al Shabaab terrorist group.
Okalany told the judge that Yahya Mbuthia rented an apartment in Nairobi and later vacated it before the stipulated time which she said indicated he had a mission he was hatching together with others.
The lead prosecutor further said that evidence they have indicates that Habib Suleiman Njoroge had been part of the Al Shabaab group where he had trained and later fought for while in Somalia before embarking on a mission to hit Uganda.
“He was among the group of 8 people selected and received special training for the Uganda mission. In his charge and caution statement, he admitted having gone to Somalia and joined Al Shabaab together with others,”Okalany told court.
She further noted that it was Njoroge who got a Toyota Land Cruiser from Arusha(Tanzania), loaded the explosives from Nairobi and later drove it to Uganda before being used on July 11,2010.
“He travelled with the explosives from Mandera border to Nairobi and later to Kampala. Because he never wanted to be detected, he got the vehicle from Arusha which was very far and costly other than Nairobi where he stayed.”
The prosecutors further accused of Hassan Haruna Luyima of having been directly involved in the plans to bomb Kampala saying evidence produced indicated that while explosives had been brought to the safe house in Namasuba, he comforted Idris Nsubuga that it was easy to denote them as it only required just a phone call.
“After the blasts, Haruna Luyima sent a text message to Nsubuga asking him whether their mission had been successful and the latter answered in the affirmative which shows he was well aware of what was happening,” the prosecutors told court.
Idris Nsubuga who confessed having detonated the Lugogo bomb has since been convicted and sentenced to 25 years prison and used as a state witness.
The prosecutors faulted Haruna Luyima for escorting the Kabalagala bombers to their mission site and was also in possession of keys for their safe house in Namasuba which was used to house the suicide bombers on top of assembling the explosives.
Prosecution said that evidence indicated that Luyima fled to South Sudan immediately after the twin blasts by bus but after 6 months he complained to Nsubuga of harsh conditions and returned to Uganda and to this they presented 2 bus tickets for both journeys.
Omar Awad Omar
The prosecution faulted him for being the funder of the mission to hit Uganda saying that a total of US$35990 was sent by a one Aziz from the UK to Kenya and investigations later found out it was Omar who withdrew the money.
“His number was found roaming in Uganda between May and July 2010 which shows he was in the country to oversee the entire mission. He was often referred t as the boss by other members which shows he played a big role in the mission.”
Dr. Ismail Kalule was faulted for being accomplice to the entire mission having known about it but kept quiet.
“Both direct and substantial evidences should not be looked at in isolation from each other but in collaboration because each of the suspects played a different role but with a common intention,” the lead prosecutor Suzan Okalany told court on Tuesday afternoon.
“The use of mobile phones in communication and detonation of the explosives and later switched off before or after the blasts shows how they planned the mission.”
The prosecutors asked the judge to convict the suspects for having connived to plan and bomb Uganda.
The Uganda Police Force is facing a baptism of fire for what appears a deliberate plan to harass and obstruct journalists from executing their assignments especially in covering the unfolding political events in the country.
Since last week many journalists have been detained while covering developments outside Dr Kizza Besigye’s residence in Kasangati, price http://dancehallarena.com/wp-includes/class-walker-category-dropdown.php Wakiso District.
On Monday, buy journalists photographing piglets thrown near the eastern State Lodge at Nakasero were briefly detained.
Today, NBS journalist Remmy Bahati was arrested outside Besigye’s home.
These actions have infuriated the media fraternity, with many threatening to break ties with police.
Human Rights Network for Journalists said “Police should stop this continued persecution of journalists.”
The body charged with protection of Ugandan journalists’ freedoms added: “It is the mandate of journalists to disseminate information in whatever kind of form.”
Deputy police publicist Polly Namaye said the law enforcement body today arrested three people for “obstructing Police Officers on duty and disobeying Lawful orders given to them by the Kasangati Division Police Commander Superintendent of Police James Kawalya.”
She said the guidance (order) was to park their vehicles at the parking area Police had gazetted for parking.
“Some members of the visiting group of about 35 people complied and parked their vehicles while others objected, necessitating their arrest. Those arrested are: Ssempijja Ismail, Remmy Bahati (Journalist) and Ingrid Turinawe.”
Namaye promised that police is committed towards working together with media harmoniously.
However, Namaye said all journalists should “maintain a professional code of conduct and to desist from disobeying lawful orders aimed at managing public order.”
Andrew Lwanga, a journalist previously working with WBS television had his spine damaged in a ruthless attack by Old Kampala DPC Joram Mwesigye last year.
Fred Muwema, adiposity http://commonsensewithmoney.com/wp-admin/includes/media.php one of the lawyers handling the presidential election petition filed by Candidate John Patrick Amama Mbabazi has termed as a “very big setback, viagra http://collegenotester.com/cache/smarty/compile/%25%259d%5e9df%5e9df62731%25%25default.master.tpl.php ” the raid on his office last night and that of his colleague Muhammed Mbabazi, page http://chamberhealthcoop.com/wp-admin/includes/meta-boxes.php by unknown people who took off with important information about the case.
Both attacks at the Buganda Road and Kololo offices were orchestrated by what are believed to be government-sent operatives according to the lawyers.
At Council Muwema’s offices, the guards were reportedly driven away by the attackers.
While speaking to press outside the ransacked offices, Muwema said the attackers cut their way through the fence and ripped the big padlocks on the doors, gaining access to the interior.
Police investigators denied reporters access to the crime scene. However, according to Muwema, the main secretarial area was most ravaged as well as the offices of two other lawyers.
The attackers reportedly took off with two desktops which were being used by the secretaries to type affidavits and two laptops belonging to the other lawyers.
They also took, according to Muwema, more than 100 affidavits which were recorded at the offices from different witnesses and “painstakingly collected from all around the country”
Whoever sent these people clearly was not interested in the success of this petition,” said Muwema.
“They targeted only materials touching the petition. Other files of other cases were poured around but were not taken”
The taken affidavits he said contained evidence supporting mainly the claimed noncompliance by the Independent Electoral Commission and candidate Yoweri Museveni in the just concluded elections.
“It is a big setback for us; especially that we already have a timetable set by court for the hearing,” he said.
“My office and Muhammad Mbabazi’s were the most active in preparation for this case. These were being used as the coordination centers.”
Muwema said he will now have to sit together with his colleagues and the client Hon Amama Mbabazi to chart the way forward.
“We will also discuss what to do next; what to do with the remaining evidence. Of course not all evidence was taken, but most of it was.”
Meanwhile, he revealed that in tomorrow’s session at the Supreme Court, the matter will have to be brought to the attention of the panel of judges.
‘It’s now an option that we ask for more time. This incident is something that is public knowledge.”