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Thursday, October 20 2016

Bank of Uganda takes over Crane Bank management

Messages about Crane Bank were last week circulating on social media sites like wildfire..This prompted the Central Bank, Bank of Uganda, to come out and issue a statement on October 13, 2016 that all was well.

"It has been brought to our attention that messages have been circulating on Whatsapp instructing depositors to withdraw their money from Crane Bank within the next week. We wish to categorically state that these messages were not issued by Bank of Uganda."

That was a statement from a source at Bank of Uganda. In a twist of events, the bank with over 40 branches and 21 years old in the country has been taken over by the central bank exactly one week later.

"This action has been taken upon a determination by Bank of Uganda that Crane Bank limited is a significantly undercapitalised financial system and that the continuation of Crane Bank's activities in it's current form is detrimental to the interests of it's depositors."

Crane Bank's CEO Sudhir Ruparelia and wife at Munyonyo

Hours before the announcement, there was heavy deployment at the bank's head office in Kampala whose front parking area is normally decorated with Land Cruiser V8 rides in metallic colours..

Meanwhile, the signature on the document communicating the takeover is different from the one the Governor uses while signing on money, something that made many especially the depositors to believe that, may be, it wasn't true but sadly it is.

The two different signatures are authentic as confirmed by Bank of Uganda this afternoon.

The two signatures are aunthentic

Official message announcing the takeover of Crane Bank by Bank of Uganda

Posted by: uowd AT 09:39 pm   |  Permalink   |  Email
MC Kats and baby mama, Fille

Their daughter turned 7, a few days back.

During the interview, MC Kats caught up with his baby mama on a number of issues ranging from her Extended Play that she will be releasing soon, the two collaboration songs that King Saha agreed to work on with Fille.

Hellen Lukoma gifted with a Range Rover

Asked what the magic was, and Hellen was like and that is nothing, he is capable of a lot more.

"I have two children, Ata and Ark, with my Heaven sent Anwar, we have been together for five years. I am a good person and my hubby is the only one in this world, he was made for me and by the way, that is nothing compared to the things he has done."

Sheebah Karungi quits TNS

In a Snapchat post decorated with green snakes emojis, God's Plan who is currently in the UK has revealed how the 'Bango' singer ended up dating his then girlfriend Sheilah Gashumba.

"He used to come to my apartment to chill, drink and eat food..."

Zari and her new lover Choppa

Not long back, when Zari was explaining how she hit the rocks with King Bae, who turned out to be romance scammer, she said that it is not about money when it comes to dating her, so even the not so loaded guys were welcome to give it a try, but looking at her new lover, GK Choppa, he seems to be wearing two faces, in him you see a combination of her late hubby and Diamond Platnumz.

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