Parliament’s investigations into the sale of Banks pushed to next week
Parliamentary Committee on commission’s state and statutory enterprises (COSASE) has given Bank of Uganda up to Monday next week to avail all the required documents in the probe of the closure of seven defunct banks.
This is as the committee chaired by Bugweri county mp Abdul Katuntu had started hearing queries into the closure of the banks.
The banks in question include Teefe Bank in 1993, International Credit Bank Ltd in 1998, Greenland Bank in 1999, The Co-operative Bank in 1999, National Bank of Commerce in 2012, Global Trust Bank in 2014 and the sale of Crane Bank Ltd to DFCU in 2016.
The chairperson of the committee Abdul Katuntu in his introductory remarks noted that the objective of this process is to see if any Bank could be handled better in accordance with the law.