Skip to main content
#
www.ugandaonline.net
rss feedour twitterour facebook page pintrest instagram
Sponsored

Ads

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

Diamond Platnumz finds love in Kim Nana

Kim Nana and Diamond Platnumz making a bold statement

Wema Sepetu banned from acting following her leaked clip with new lover

Wema Sepetu's last pic on Instagram and inset is the banned actress issuing her apology

Sponsored

 Entertainment Photos

Ads

Top Stories 
Wednesday, 21 November 2018
Uganda to start issuing the EAC electronic passport in January 2019
Wednesday, 07 November 2018
Tulambule Ne Zari 4-day-tour of Western Uganda with the Minister of Tourism
Tuesday, 30 October 2018
Sheebah Karungi is the proud owner of this orange SUV
Thursday, 20 September 2018
After a few weeks in the USA, Bobi Wine has returned to th country to serve his constituents
Monday, 17 September 2018
Chameleone is teaching Daniella a few games

Ads

Ads
Ads
Sponsored
Site Mailing List 
Uganda Entertainment News

Uganda Online Email    Copyright © 2018 UgandaOnline.Net- All rights reserved.

Privacy PolicyDisclaimer