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Uganda: Regulation of the Bank of Uganda: Reporting Requirements from Banks to the Central Bank

Reporting requirements from banks to the Central Bank of Uganda
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This document discusses a regulation which necessitates that all banks in Uganda report to the Central Bank on a regular basis and in a prescribed format.

It states that the main objective of the regulation was to enable the Central Bank to perform the supervisory and monitoring role by facilitating it with accurate and timely financial data and other information from banks, and also to facilitate policy making for promoting economic growth and stability in Uganda.

In particular, the document provides information on:

  • Time limits for furnishing the statement of accounts, i.e. the audited balance sheet and income statement to the Central Bank;
  • The set of returns that are to be filed within different time-frames pertaining to liquidity information, statement of income and expense, provisions for bad debts, capital adequacy and loans extended to insiders in the banks;
  • Powers of the Central Bank to verify the accuracy of the returns filed by designating external auditors for the same;
  • The remedial measures the defaulting banks can take and the kind of sanctions they are liable to be subjected to in case of serious defaults.

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