Uganda: Mutebile Tells Distressed Banks to Forget Bailout

Kampala — The Governor Bank of Uganda, Mr Emmanuel Tumusiime- Mutebile, has asked the distressed banks he did not name to stop wasting time begging for bailout and warned that such move would be "extremely dangerous".

Speaking at the second annual bankers' conference at Kampala Serena Hotel yesterday, the governor said BoU has no obligation to bail out any distressed bank because the central bank's role is to protect depositors of the commercial banks and not the shareholders.

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