Skip to main content
#
www.ugandaonline.net
Sponsored Link

Advertisement

Wednesday, November 18 2009
Most Ministries and Government projects are connected to the internet while some are not, but with Bank of Uganda automating its banking process after the launch of the Oracle Flexcube banking software, it will not be easy to pay for as long you are not connected to the internet.
 
The launch of the software at Imperial Royale Hotel on 18.Nov.2009 had over 200 participants from Ministries, Projects and other government stake holders. The move is aimed at reducing fraud as much as possible.
 
By mid next year, all transactions with Bank of Uganda will be cleared through internet banking or online banking. This will quietly phase out the cheque system which most developed economies have long stopped using.
 
Cheques are still in use but with a sealing of up to 20Mn. This is the case for commercial banks as well. A cheque with a figure above 20 million will not be honoured.  Internet banking will ease operations for all those involved in terms of service delivery, feedback on the status of the transactions, timely reconciliations and best of all the convenience that comes with working within you environs.
 
This comes at the time when the country is getting better connectivity courtesy of the underground fibre cables which are designed to give fast internet at a supposedly cheap rate.
Posted by: uowd AT 05:45 pm   |  Permalink   |  Email

Chameleone shares pics of Davido and Wizkid kneeling, blasted the more

Chameleone and his rides

Bebe Cool's 44th birthday celebrations at Murchison Falls

Bebe Cool and Zuena

I have been with my Baby Daddy for 7 years-Juliana Kanyomozi

Juliana Kanyomozi

Sheilah Gashumba's experience with a romance scammer

Sheilah Gashumba dating drama

Revealed - Pere and Maria are the fake housemates in BBNaija 6

Two fake housemates revealed

Leila Kayondo returns with a bang from her US holiday

Leila Kayondo back from her US holiday

UG Connect Concert featuring 20 artists for 52 weeks

UG connect online concert kicks off

Juliana Kanyomozi talks about her life as a new mom

Juliana and baby Taj

Finally Diamond Platnumz is a proud owner of a Rolls Royce

Diamond Platnumz adds a Rolls Royce to his fleet

Tiffah reveals her parents Zari and Diamond have fallen back in love

Zari and Diamond Platnumz back in love

Sponsored

 Entertainment Photos

Sponsored

Advertisement

Advertisement

Advertisement

Uganda Online Entertainment News

Uganda Online Email    Copyright © 2021 UgandaOnline.Net- All rights reserved.

Privacy PolicyDisclaimer