Download - Savings Bank Related Lit
-
8/8/2019 Savings Bank Related Lit
1/19
savings bank, financial institution that, until recently, performed only the following functions: receiving
savings deposits of individuals, investing them, and providing a modest return to its depositors in the form
of interest. A common form of savings bank, the mutual savings bank, was traditionally the only type that
accepted savings deposits exclusively (seebanking). Mutual savings banks are state-chartered
institutions, owned by their depositors and managed for their mutual benefit by self-perpetuating boards of
trustees. Savings deposits may also be received by acredit union or a savings and loan association.
However, due to extensive deregulation in the banking industry (primarily during the 1980s), the
distinction between savings banks and other financial institutions has become increasingly hazy. Federal
deregulation laws in the 1980s gave savings banks the opportunity to become federally chartered
institutions, to convert themselves into capital stock corporations, and to come under the supervision of
the Federal Home Loan Bank Board. New lending powers, the removal of ceilings on interest rates, and
takeovers of struggling small banks by larger ones have made the mutual savings bank, as it was
understood until about 1980, largely obsolete.
Bibliography
See M. Mayer, The Money Bazaars: Understanding the Banking Revolution Around Us(1984); F. H.
Ornstein, Savings Banking(1985).
savings bank
Financial institution that gathers savings and paysinterestordividends to savers. It channels the savingsof individuals who wish to consume less than their incomes to borrowers who wish to spend more. Thisfunction is performed by mutual savings banks, savings and loan associations,credit unions, postalsavings systems, and municipal savings banks. Unlike a commercial bank, a savings bank does notaccept demand deposits. Many savings banks originated as part of a philanthropic effort to encouragesaving among people of modest means. The earliest municipal savings banks developed from themunicipal pawnshops of Italy (seepawnbroking). Other early savings banks were founded in Germany in1778 and The Netherlands in 1817. The first U.S. savings banks were nonprofit institutions established in
the early 1800s for charitable purposes.
For more information on savings bank, visit Britannica.com. Br itannica Concise Encyclopedia. Copyright 1994-2008 EncyclopdiaBritannica, Inc.
credit institution, the basic function of which consists in attracting monetary savings and temporarily freemonetary resources of the population.
In the capitalist countries the assets accumulated in savings banks are one of the sources for theformation of loan capital. The activities of the banks promote the redistribution of national income in theinterests of the ruling classes. The millions entrusted to the savings banks are in the final analysisactually controlled by these very same bank capital magnates (V. I. Lenin, Poln. sobr. soch, 5th ed., vol.27, p. 334). In most countries, savings banks originated at the end of the 18th century and the beginningof the 19th. Savings banks were established by private companies, municipalities, and the state,especially from the second half of the 19th century. Usually, the state savings banks were closely linkedwith the postal system. During the stage of imperialism the money attracted to the savings banks ischanneled through the state credit system and is used chiefly to finance the military expenditures of theimperialist states and cover the budget deficit.
http://encyclopedia2.thefreedictionary.com/bankinghttp://encyclopedia2.thefreedictionary.com/bankinghttp://encyclopedia2.thefreedictionary.com/credit+unionhttp://encyclopedia2.thefreedictionary.com/credit+unionhttp://encyclopedia2.thefreedictionary.com/savings+and+loan+associationhttp://encyclopedia2.thefreedictionary.com/interesthttp://encyclopedia2.thefreedictionary.com/interesthttp://encyclopedia2.thefreedictionary.com/interesthttp://encyclopedia2.thefreedictionary.com/dividendhttp://encyclopedia2.thefreedictionary.com/savings+and+loan+associationhttp://encyclopedia2.thefreedictionary.com/credit+unionhttp://encyclopedia2.thefreedictionary.com/credit+unionhttp://encyclopedia2.thefreedictionary.com/commercial+bankhttp://encyclopedia2.thefreedictionary.com/pawnbrokinghttp://encyclopedia2.thefreedictionary.com/_/gr.aspx?url=http%3A%2F%2Fwww.britannica.com%2Feb%2Farticle-9065937%2Fsavings-bank&source=Britannicahttp://encyclopedia2.thefreedictionary.com/bankinghttp://encyclopedia2.thefreedictionary.com/credit+unionhttp://encyclopedia2.thefreedictionary.com/savings+and+loan+associationhttp://encyclopedia2.thefreedictionary.com/interesthttp://encyclopedia2.thefreedictionary.com/dividendhttp://encyclopedia2.thefreedictionary.com/savings+and+loan+associationhttp://encyclopedia2.thefreedictionary.com/credit+unionhttp://encyclopedia2.thefreedictionary.com/commercial+bankhttp://encyclopedia2.thefreedictionary.com/pawnbrokinghttp://encyclopedia2.thefreedictionary.com/_/gr.aspx?url=http%3A%2F%2Fwww.britannica.com%2Feb%2Farticle-9065937%2Fsavings-bank&source=Britannica -
8/8/2019 Savings Bank Related Lit
2/19
At the beginning of 1974, the balance of deposits at savings banks was $96.4 billion in the USA, 5.4billion sterling in Great Britain (Sept. 30, 1973), 162 billion francs in France, and 176.9 billion marks in theFederal Republic of Germany. Most of the deposits belong to rentiers and to small- and medium-scaleentrepreneurs. The workers own only a small share of the total deposits. The savings of the majority ofthe working people are forced. The deepening of the internal contradictions and crises inherent incapitalism, inflation, and uncertainty about the future compel the working people to curtail consumptionand start saving to protect themselves in case of unemployment, sickness, and disability or to supportthemselves in old age.
Savings banks were founded in St. Petersburg and Moscow in 1841. By the beginning of 1914, therewere 8,553 savings banks in Russia, including 1,026 central ones and 7,527 branch and registeredsavings banks. The total balance of deposits, including deposits by juristic persons, was about 1.7 billionrubles. There were approximately 9 million depositors. Large-scale depositors prevailed, especiallymembers of the urban and rural bourgeoisie. The tsarist government used the resources of the savingsbanks to strengthen the police state and to finance capitalist enterprises and farms owned bythepomeshchiki(landlords) and kulaks.
In the socialist countries the savings and temporarily free assets of the population that are mobilized bythe savings banks are used to develop the economy and culture and improve the well-being of the
working people. In the USSR the savings banks represent a single, all-Union, centralized credit institution,the main purpose of which is the development of a savings system, including the extensive attraction ofthe free monetary assets of the population, the floating of state domestic loans, and the provision ofpayment and cashing services for the public, enterprises, organizations, and institutions. Other savingsbanks operations are stipulated in the bank charters. Savings banks are juristic persons operating on thebasis of economic accountability.
The state labor savings banks, which were established by a decree of the Council of PeoplesCommissars of the RSFSR on Dec. 26, 1922, operate under a charter approved by the Council ofMinisters of the USSR on Nov. 20, 1948. Before 1963, the savings banks were administered by theMinistry of Finance of the USSR. Since Jan. 1, 1963, they have been under the jurisdiction of the StateBank of the USSR (Gosbank), which makes possible the more efficient use of the funds mobilized by thesavings bank to provide credit in the national economy.
The savings deposited in savings banks represent the portion of the peoples monetary income that isfree after current material and cultural needs have been satisfied. Most of these savings are purposive,intended for payment for a trip to a resort or for the purchase of durables (motor vehicles, motorcycles,and furniture, for example) or cooperative apartments. The continuous rise in the standard of living of theworking people and the increase in their monetary income have resulted in a regular increase in savingsbank deposits (see Table 1).
By the end of 1974, there was an average of 395 savings accounts per 1,000 inhabitants, and theaverage per capita deposit was 312 rubles. For every 1,000 income-earning inhabitants (the majority ofdepositors) there were 639 accounts, averaging 504 rubles each. In 1974 the turnover in savings bankdeposits was 43.2 billion rubles in receipts (including 8.5 billion rubles in transfers from the incomes of theworking people) and 33.0 billion rubles in payments. The assets deposited at savings banks are kept in
accounts at Gosbank. Because these assets are fairly stable, they serve as an important source ofGosbanks credit resources.
The state guarantees the security of the money entrusted to the savings banks, the secrecy of deposits,and the payment of them on first demand by the depositors. Savings banks accept demand deposits, timedeposits (at least six months), and conditional lottery and current account deposits. For time deposits,savings banks pay 3 percent interest per annum, and for the remaining types of deposits, 2 percent perannum. For the lottery deposits, the income is paid in winnings determined in semiannual drawings.Demand deposits are most popular with the public, constituting 70 percent of the total savings in depositaccounts by the end of 1974. The income from deposits (interest
-
8/8/2019 Savings Bank Related Lit
3/19
Table 1. Deposits of the public in Soviet savings banks (at
years end)
194
0
195
0
196
0
197
0
1974
Number of deposits
(million)..........................
17.314.352.280.1100.0
city ........................................ 11.610.438.358.973.9
countryside................................... 5.7 3.9 13.921.226.1
Total deposits (billion
rubles) .........................
0.7 1.8 10.946.678.9
city ........................................ 0.6 1.6 8.7 34.157.2
countryside................................... 0.1 0.2 2.2 12.521.7
Average deposit
(rubles)............................
42 124 209 581 789
city ........................................ 50 151 228 578 774
countryside................................... 26 52 157 591 830
or winnings) is not subject to state and local taxes and fees. The depositor has the right to receive the
deposit in part or in whole. He may dispose of the deposit personally or through a representative, and healso has the right to will the deposit to one or several persons, regardless of whether they are his legalheirs, or to the state or public organizations.
In addition to deposits made by the public, savings banks keep the assets of plant and local trade unioncommittees, mutual assistance offices, and other primary social organizations not engaged in economicactivities, as well as the funds of the rural (settlement) soviets and institutions supported by rural budgets.The savings banks float the bonds for the states 3-percent internal lottery loan, sell tickets for the prizelotteries held in the Union republics, and pay out the earnings on state bonds and lottery tickets. SinceDecember 1974, they have paid the retired bonds of the state loans floated by subscription before 1957,in comformity with the established dates of their repayment. Savings banks perform operations related tothe transfer of deposits and carry out clearing operations authorized by depositors. They issue andreimburse letter-of-credit payments, and they issue credit checks for various consumer durablespurchased by the public at state and cooperative trade organizations.
The largest service operation of the savings banks involves the receipt of apartment rents and paymentsfor municipal services, for the support of children in institutions, and for insurance. In 1974 the savingsbanks received 7.6 billion rubles in such payments. They also carry out operations related to the paymentand cashing servicing of state enterprises, institutions, organizations, and kolkhozes.
By the end of 1974, there were 79,500 savings banks. Depending on their functions and the number ofpersonnel, savings banks are classified as central, first-category, second-category, and local. The centralsavings banks direct the activities of the savings banks of cities and raions. In all the Union and
-
8/8/2019 Savings Bank Related Lit
4/19
autonomous republics, krais, and oblasts, as well as in certain major cities, there are state labor savingsbanks administrations that directly supervise the operations of savings banks. The entire system ofsavings banks is run by the Board of Directors of the State Labor Savings Banks of the USSR.
In other socialist countries the steady rate of growth of the economy and the continuous improvement inthe well-being and cultural level of the people have resulted in the extensive development of the activity of
savings banks in attracting deposits by the public. By the end of 1974, the total savings banks depositshad reached 6.9 billion leva in Bulgaria, 70.8 billion forints in Hungary, 55.0 billion marks in the GermanDemocratic Republic, 216.2 billion zotys in Poland, and 107.2 million krona in Czechoslovakia. Thesavings banks in these countries offer a broad variety of accounts. The most common are demanddeposits, except in Hungary, where time deposits prevail. Lottery deposits are important inCzechoslovakian savings banks. Characteristic of the savings banks in the other socialist countries is thedevelopment of credit operations, such as the granting of loans to the public for housing construction andthe purchase of consumer goods and durables. The savings banks also sell lottery tickets (Hungary), buyand sell savings bonds (Poland), and keep the assets of various organizations (Rumania).
REFERENCES
Marx, K., and F. Engels. Soch, 2nd ed., vol. 6, pp. 58990; ibid., vol. 25, part 1, p. 443.
Lenin, V. I. Poln. sobr. soch, 5th ed., vol. 5, pp. 14447.
Lenin, V. I. Iz ekonomicheskoi zhizni Rossii. Ibid., vol. 6.
Lenin, V. I. Ibid., vol. 27, pp. 33334.
Lenin, V. I. Luchshe menshe da luchshe. Ibid., vol. 45.
Valler, L. Sberegatelnye kassy v zarubezhnykh stranakh.Moscow, 1960.
Spravochnik rabotnika sberegalelnoi kassy.Moscow, 1971.
Sberegatelnye kassy SSSR za 50 let.Moscow, 1972.
A. P. GNUTOV and M. A. NAIDIS
The Great Soviet Encyclopedia, 3rd Edition (1970-1979). 2010 The Gale Group, Inc. All rights reserved.
Depositis
Deposits from savers are an important source of financial strength for the Islamic banks. They use it
to increase their capacity for financing operations and thereby increase profit for the shareholders.
Islamic Banks raise funds generally based on Amanah or Wadiah arrangements, on Mudarabah and on
-
8/8/2019 Savings Bank Related Lit
5/19
Wakalah for Fund Management. There are two main bases of mobilisation of deposits by Islamic banks
that are Current account deposits and Savings deposits. Banks may also get permanent or redeemable
equity capital through investmentdeposits that practically take the form of a running partnership
between the depositors. Depositors in Islamic finance can be compared with investors/shareholders in
companies, who earn dividends when the investment makes a profit or lose part of their capital if
the investment posts a loss. The contractual agreement between depositors and Islamic banks doesnot pre-determine any rates of return, it only sets the ratio according to which profits and losses are
distributed between the parties to the deposit contract.
In Islamic banks, Current Account deposits are based on the principle of Amanah / Wadiah or that of
Qard. In the first type, interest-free deposits are held by the banks either in trust (Amanah), or in
safe-keeping (Wadiah). Under Amanah arrangement, the Islamic bank treats the funds as a trust and
cannot use these funds for its operations; it does not guarantee the refund of the deposit in case of
any damage or loss to the Amanah resulting from circumstances beyond its control. In Wadiah, the
bank is deemed as a keeper and trustee of funds and has the depositors permission to use the funds
for its operations in a Shariah compliant manner. Deposits under Wadiah take the form of loans from
depositors to Islamic banks and the bank guarantees refund of the entire amount of the deposit. While
these deposits can be withdrawn at any time, the depositors have no right to any return/profit on such
deposits. However, depositors, at the bank's discretion, may be rewarded with a Hibah provided such
gifts do not become a custom or a permanent practice. In the second type, the client gives the bank
authority to use current accounts funds to invest in its operations, in that case, the deposit amount is
considered as a non-interest loan by the depositor to the bank. The bank has the obligation of to
returnthe credit balance upon demand clients who have no right to receive any profit on
their balances. The liability to return a Qard deposit is not affected by the banks solvency or
otherwise.
Savings deposit accounts operate in a different way. The depositors allow the banks to use their
money invested in profitable business ventures which are legal and Shariah compliant. Generally,
deposits in savings accounts are accepted by Islamic banks on the basis of Mudarabah where thedepositor is rabb-ul-mal (investor) and the bank is the Mudarib (fund manager). The profit will be
shared as per a pre-determined ratio upon, while loss will be borne by the rabb-ul-mal. Profit
distribution amongst the depositors and the shareholders will be made according to the weightage
assigned usually at the beginning of each month to their investments. Savings deposits are generally
paced in a joint investmentpool with other deposits mobilised by the Islamic banks.
Investment deposits are accepted for a fixed period of time or term and are governed by the
Mudarabah contract with the bank. When deposits are for an agreed fixed term no withdrawal is
normally allowed until the end of the deposit term. However, some banks are allowing early
withdrawals in an agreed notice period. Term deposits are arrangement where depositors seek some
return on their investments; they are taken on a Mudarabah basis. These deposits are allocated to anumber of investment pools and the Islamic banks invest the pooled amount in Shariah-compliant
businesses. All direct expenses are charged to the respective pools; the net proceeds are distributed
between the bank and the pools and then among the depositors represented by the pool. The profits
from the assets are shared between the depositors and the bank according to a pre-determined ratio
agreed upon at the outset. The profitsharing weightages are assigned based on the various tenures
and the amount invested under the arrangement. And as required under Mudarabah, depositors have
to be informed in advance of the formula used for sharing the net earnings of the investment pool with
the bank. In case of the unlikely event of loss, the depositors have to bear the loss on a pro-rata basis
-
8/8/2019 Savings Bank Related Lit
6/19
while bank goes un-rewarded for all its efforts. If a bank contributes its equity capital in a pool at the
time of setting up an investmentpool, the relationship will be a combination of Musharakah and
Mudarabah, and the bank would be entitled to a proportionate profit on its own investment in relation
to the total Mudarabah investmentpool. Islamic banks can also open may announce Murabaha
and leasing funds in which the risk-averse investors may purchase units and be treated as rabb-ul-mal
and get the quasi fixed-return from profits or rentals earned by the respective funds from the tradingand leasing activities.
Muslim Banners
Current account deposits
There are two main types of account which are commonly known in the Islamic Banks that are:
Current Account and Investment account. Current account deposits are regarded as trusts or safe-
keeping and offer the depositors safety of their money against the banks guarantee to return theirfunds on demand.
Similarly, the current account, as operated by conventional banks, is essentially a safekeeping
arrangement between the depositors and the bank, which allows the depositors to withdraw their
money at any time and permits the bank to use the depositors' money. However, deposits in these
banks have their principal guaranteed, and they may agree to pay a return on the deposits that is
either fixed or floating, but not linked with the outcome of their economic activities. The mobilised
funds are freely used by the banks and are totally liable for their repayment even if the banks incur a
loss.
In the case of Islamic banks, current account deposits can be categorised as loans. In fact, the bank
guarantees the full return of these deposits on demand to the depositors, who in turn, authorize the
bank to utilize their funds for any purpose permitted by the Shariah at the bank's own risk. Hence, if
there is any profit resulting from the employment of these funds, it accrues to the bank and if there is
any loss, it is also borne by the bank. Loans accounts are not eligible for a share in profits, as they are
not subject to risk and there shall be no return or mark-up payable on them. Therefore, Islamic banks
that have ruled current accounts may be eligible for payment of gifts, but not profits.
Current Account deposits with Islamic banks follow the principle of Amanah, where they cannot be
guaranteed or Wadiah where their principle amount is treated as loan and therefore guaranteed, in
that case the Islamic bank has the permission the deposits in their own operations. The depositors
have no right to any return or profit on such deposits. However, gifts to such depositors can be given
entirely at the discretion of the Islamic banks. And as the banks are not allowed to pay any return for
the use of the depositors funds that take the form of loans, awarding such gifts should not take the
form of a custom or a permanent feature of a banks operations.
Current Account deposits with Islamic banks can also be based on the principle of Qard, in which case
the bank gets authority to use current accounts funds as non-interest loans to invest in its own
operations. Current accounts with Islamic banks in case of Qard are similar to current accounts with
conventional banks as regards the obligation of the bank to return the credit balance upon demand.
http://www.muslimbanners.com/index.php?id=madil3dhttp://www.muslimbanners.com/link.php?took_i=1&adurl=71138&purl=429582&from=717&size=3&to=5&b=1&url=http%3A%2F%2Fwww.2hijab.comhttp://www.muslimbanners.com/index.php?id=madil3d -
8/8/2019 Savings Bank Related Lit
7/19
The relationship between the depositor and the bank is that of lender and borrower whereby the client
is simply the lender and the bank is the borrower. It is of banks responsibility to return the full
amount of such deposits even in the case of loss in its overall business. If the bank indicates at the
time of account opening that it will invest the funds deposited under current accounts at its own
discretion in any Shariah-compliant business, it can benefit from these accounts without requiring
passing on any part of their profit to the depositors, as they are not subject to risk. The bank will beliable for any possible loss and the depositors are guaranteed full repayment of the deposits, net of
the service charge, if any. Instead, such accounts may be eligible for gifts for use of the clients funds
on a non-regular basis, which cannot be seen as dividends.
Investment accounts in account are deposits that are taken on Partnership Basis. They cover all those
accounts where the client agrees to place deposits for a fixed period of time or term, and are
governed by the Mudarabah contract with the bank. No withdrawal is normally allowed in case of a
fixed term deposit until the end of the period. However, more and more banks agree with the client on
an early withdrawal notice, or they are simply allowing early withdrawals without notice. Fixed term
deposits can be distinguished on the basis of maturity as well as on the basis of purpose, as it is
possible to give special instructions to the bank to invest a particular deposit in a specified project or
trade. This is the case in restricted investment deposits, where the depositor authorises the bank to
invest the fund in specific projects or sectors for a specific period, determining the level of risk to be
taken. There also unrestricted investment deposits where the depositor gives the Islamic bank
unconditional permission to invest the fund without any restriction as to sector, project or period, etc.,
provided all transactions are in compliance with Islamic principles and fall within the banks
investment criteria.
Term deposits follow Mudarabah rules in a first stage; the bank, as Mudarib, uses its discretion in
managing the affairs of the Mudarabah and takes other necessary actions for the benefit of the
Mudarabah. The deposits are allocated by the bank to a number of investment pools where it puts the
invested amount in Shariah-compliant businesses. The investment should through the entire process
of a business activity which involves risk taking at each stage. The Islamic bank bears all expensesrelated to general management and distributes the net proceeds between the pools and then among
the depositors represented by the pool. How much profit each depositor earns depends on the final
outcome of the bank's own investment; in fact, the bank proceeds to a constructive liquidation after
the term or at the end of the accounting period, so that the joint relationship starts afresh for the next
accounting period. The rate of return on a deposit in an Islamic bank is directly linked to the quality of
the banks investment decisions. Therefore, instead of promising depositors a predetermined fixed
rate of return on their investment, the bank tells them only the ratio in which it will share the profits
with them. Profits are calculated and accrued every month and paid on maturity of the deposit or as
agreed between a depositor and the bank. If a bank contributes part of its capital in a pool at the time
of setting up an investment pool, the partnership will fall under the rules of Musharakah. The bank will
be an investor just like other depositors. All participants in an investment pool will be partners amongthemselves, they will all have the right to participate in the appreciation of the business as a whole
and the bank will serve as the fund manager responsible for investing the funds of the investment
pool.
http://www.muslimhands.org/link/8007/ -
8/8/2019 Savings Bank Related Lit
8/19
Interest-bearing deposits
Transactions in the Islamic banking system cannot take place on the basis of interest; instead they
can take place on the basis of Qard Hasan or profit-sharing. Accordingly Islamic banks can accept
interest-free demand deposits, time deposits with different maturities as well as savings deposits.
Islamic deposits are generally based on profit-and-loss-sharing and their characteristics may differ
from a country to another. The funds flowing into the time deposit accounts and demand deposits
accounts form the principal source of Islamic banks financing activities on the assets side. Islamic
banks can also have investment deposit accounts invested in specific projects with a return based on
the outcome of the project and the ratio of profit-sharing agreed between the bank and the
depositors.
Current deposits in the Islamic banking system are similar to those in the conventional banking
system; they are fully repayable at all times on demand and banks do not usually pay any return on
these deposits. In Islamic banking, current account deposits, also called Qard Hasan deposits, are
treated as a loan from a customer to the Islamic bank; the bank should guarantee full payment of the
principal amount on demand. Demand deposits are considered as Amanah which the bank is expected
to hold in trust. Yet, resources of such deposits can be used in operations where there is a possibilityof both profit and loss with the specific permission of the depositors.
Saving deposits also exist in the Islamic banking system and are different from conventional saving
deposits as they do not include any fixed return based on interest. Holders of savings deposits within
Islamic banks may have a return which is not fixed in the contract and which may fluctuate along with
the profits of the bank and also share in the losses in there are any. They may be redeemable or non-
redeemable and can also be subject to certain restrictions with respect to the amounts and timing of
withdrawals from such accounts. However, holders of savings deposits may be given some benefits,
though not in the form of a contractually fixed pre-determined return, even though the bank
guarantees the full nominal value of these deposits; this is a kind of incentives to attract savings
deposits. It could be in form of non-fixed prizes and bonuses in cash or kind; exemption or discount inthe payment of commission and fees; and priority in the use of banking facilities.
Time deposits are replaced in the Islamic banking system by deposits which dont earn a pre-
determined return for a fixed period and dont carry a guarantee of their nominal value. These
deposits have different maturity periods and when the Islamic bank makes profits, holders of time
deposits will be entitled to receive a certain proportion of these profits. But, the depositor will have
also to share in losses that the bank may incur. Islamic banks in some countries may accept
investment deposits on both short-term log-term or on unlimited-period. In the latter case, the period
of deposit is not specified, and the deposits are automatically renewed unless the customer gives a
notice of termination of deposit within an accepted time interval. It is generally agreed that
investment deposits of a longer maturity could be given an advantage in form of higher weightages
over deposits of shorter maturity in the profit-sharing arrangements.
Deposit-management based on Mudarabah
http://www.adbrite.com/mb/commerce/purchase_form.php?opid=1604680&afsid=1 -
8/8/2019 Savings Bank Related Lit
9/19
Mudarabah is one of the main arrangement Islamic Banks use to raise funds. under Mudarabah, the
depositors provide the capital for the bank to invest in profitable business ventures which are legal
and Shariah compliant. The depositor acts like the Rab-ul-maal and the bank as the Mudarib. As fund
manager, the bank manages the affairs of the Mudarabah; it can, for example, appoint an agent for
selling or buying assets or lease the assets of the Mudarabah, and also takes the necessary actions for
the benefit of the Mudarabah, such as the creation reserves to anticipate any unforeseen event. TheMudarabah arrangement is used by Islamic banks in many types of deposits such as saving deposits,
investment deposits, risk-prone deposits as well as other specific deposits. Islamic banks may also
issue or purchase a variety of Mudarabah Sukuk and certificates
Depositis in savings accounts that are accepted by Islamic banks on the basis of mudarabah are
considered investments of depositors for a share in the profit. They are generally placed in a joint
investment pool with other deposits mobilised by the Islamic banks. The ratio of profit distribution is
agreed upon at the outset between the bank and the depositor. The profit sharing weightages are
assigned based on the various tenures and the amount invested under this arrangement. The bank is
entitled to a part of the profit, whereas profit distribution amongst the depositors and the shareholders
will be made according to these pre-assigned weightage usually at the beginning of each month to
their investments.
Term investment deposits are also allocated to a number of Mudarabah investment pools where the
Islamic bank invests the pooled amount in businesses which are in compliance with Shariah
principles. All direct expenses are charged to the respective pools, expenses related to general
management are borne by the bank itself, and the net proceeds are distributed between the bank and
the pools and then among the depositors represented by the pool. Depositors in the Mudarabah pool
are informed in advance of the ratio used for sharing the net earnings of the investment pool with the
bank. The profit distribution among the depositors and the bank is done through a constructive
liquidation after the accounting period to refresh the joint relationship for the next period. Profits are
calculated and accrued every month and paid on maturity of the deposit or as agreed between a
depositor and the bank. If the bank also provides funds, it would be entitled to get a profit on its owncapital in the proportion which such capital has, to the total capital of the Mudarabah.
In the case where a bank also provides funds from its equity at the time of setting up of an
investment pool, suppose the depositors provide $20,000 and the bank provides $20,000 to form an
investment pool of $40,000 for a joint business venture; the arrangement would be a combination of
Musharakah and Mudarabah and the bank would be entitled to a proportionate profit on its own
investment in relation to the total Mudarabah investment pool. If it is agreed to share the profit in the
ratio of 40:60 between the bank as mudarib and the depositors, and if the profit earned by the
investment pool is $2,000, the bank will receive $800 (40%) as its profit on its own investment of
$20,000 representing its share in the investment pool. In addition to such a share in the profit, the
bank would also be entitled to share the remaining profit as fund manager for the investment pool onthe pre-agreed ratio. The remaining profit of $1,200 will then be distributed between the bank, as
mudarib and the depositors at the pre-agreed ratio of 40:60. It means that, out of the profit of
$1,200, the bank will receive more $480 and the $720 will be distributed among the other depositors
of the investment pool.
-
8/8/2019 Savings Bank Related Lit
10/19
Protection of risk-averse depositors
In Islamic deposits, the extent of risk-exposure and the period of the deposit determine the return andthe nature of the relationship between the bank and the depositors. If the bank records losses as a
result of bad investments, depositors may lose some of their deposits. The contractual agreement
between depositors and Islamic banks does not pre-determine any rates of return, it only sets the
ratio according to which profits and losses are distributed between the parties to the deposit contract.
Risk-averse depositors must establish a capital adequacy requirement with the bank, to protect
depositors and to give correct incentives to shareholders to promote prudent behaviour. Whereas, the
funds of those who agree to take a risk, but are not in a position to incur a loss may be used for
investments offering low-risk on the basis of Murabaha and Ijarah. As trustees, the banks can manage
individual portfolios where the investors may have flexibility in choosing the best way and place to
invest according to their priorities and risk-bearing levels.
In fact, Islamic banks should take into account the risk-exposure limit of its clients. Widows and the
retired people, for example, are normally not in a position to bear the risk of loss, while some other
groups, having excess money may be willing to take such risk. Therefore, the deposits of the risk-
averse clients can be accepted either in current accounts, as loans that will be guaranteed with no
share in the return from the financing operations of the bank, or by introducing special deposit
products for them. They can also be made places in general or specific pools governed under the
system of Mudarabah using the weightages system or on Wakalah basis.
Deposits accepted by Islamic banks can also be insured against possible losses, if the Takaful
contribution does not involve the element of interest. However, According to the rules of partnership
adopted by Islamic banks with the depositors, profit and even the repayment of the principal amountof deposits cannot be guaranteed. For that reason, Islamic banks have evolved procedures for deposit
and investment protection that include risk management practices. These regulations also tend to limit
excessive risk-taking.
The early years
Prior to Ugandas independence in 1962, Government-owned institutions dominated
mostbankingin Uganda. In 1966 the Bank of Uganda, which controlled the issue ofcurrencyand
managedforeign exchange reserves, became the Central Bank. Uganda Commercial Bank, which had
fifty branches throughout the country, dominated commercial bankingand was wholly owned by the
government. TheUganda Development Bank was a state-owned development finance institution, which
http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Governmenthttp://en.wikipedia.org/wiki/Bankinghttp://en.wikipedia.org/wiki/Bankinghttp://en.wikipedia.org/wiki/Bankinghttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Bank_of_Ugandahttp://en.wikipedia.org/wiki/Currencyhttp://en.wikipedia.org/wiki/Currencyhttp://en.wikipedia.org/wiki/Foreign_exchange_reserveshttp://en.wikipedia.org/wiki/Foreign_exchange_reserveshttp://en.wikipedia.org/wiki/Foreign_exchange_reserveshttp://en.wikipedia.org/wiki/Central_Bankhttp://en.wikipedia.org/wiki/Uganda_Commercial_Bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Uganda_Development_Bankhttp://en.wikipedia.org/wiki/Uganda_Development_Bankhttp://www.muslimhands.org/link/8007/http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Governmenthttp://en.wikipedia.org/wiki/Bankinghttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Bank_of_Ugandahttp://en.wikipedia.org/wiki/Currencyhttp://en.wikipedia.org/wiki/Foreign_exchange_reserveshttp://en.wikipedia.org/wiki/Central_Bankhttp://en.wikipedia.org/wiki/Uganda_Commercial_Bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Uganda_Development_Bank -
8/8/2019 Savings Bank Related Lit
11/19
channeled loans from international sources into Ugandanenterprises and administered most of the
development loans made toUganda.
The East African Development Bank, established in 1967 was jointly owned by Uganda,Kenya,
andTanzania. It was also concerned with development finance. It survived the breakup of the East
African Communityin 1977 and received a new charter in 1980.
In the 1960s, other commercial banks included local operations ofBank of Baroda,Barclays Bank,Bank
of India,Grindlays Bank,Standard Chartered Bank and Uganda Cooperative Bank.
During the 1970s and early 1980s, the number ofcommercial bank branches and services contracted
significantly. Whereas Uganda had 290 commercial bankbranches in 1970, by 1987 there were only 84,
of which 58 branches were operated by government-owned banks. This number began to increase slowly
the following year, and in 1989 the gradual increase in banking activity signaled growing confidence
inUganda's economic recovery.
[1]
[edit]Growing Pains
In the late 1990s and early 2000s, the Ugandan banking industry underwent significant restructuring.
Several indigenous commercial bankswere declared insolvent, taken over by thecentral bank and
eventually sold or liquidated. These included Cooperative Bank, Greenland Bank, International Credit
Bank, Teefe Bank and Gold Trust Bank which were closed or sold. Uganda Commercial Bank was initially
privatized through a sale of its majority shares to a purported company from Malaysia. However it later
came to light that the actual buyer was a partnership between Greenland Bank (which itself was
insolvent) and some politically connected individuals. A second privatization sale was conducted, with
the Standard Bank emerging as the winner.
The privatized Uganda Commercial Bank was merged with the formerGrindlays Bank which Standard
Bank already owned and had renamed Stanbic Bank. The combined new bank is now known as Stanbic
Bank (Uganda) Limited. As of 2008, Stanbic Bank (Uganda) Limitedwas the dominant commercial bank
inUganda, with about 27% of all bank assets and about 20% of all bank branches.[2]Nile Bank Limited,
an indigenous institution, was acquired by the British conglomerate, Barclays Bank in January 2007 and
merged with its existing Ugandan operations to form the current Barclays Bank (Uganda).[3]
A moratorium on new commercial banklicenses was declared in 2004, with the passage of a new
banking bill inParliament, which established new banking institution classification guidelines. There are
four classes of lending financial institutions under the new regulations as outlined below.
[edit]New Opportunities
http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Kenyahttp://en.wikipedia.org/wiki/Tanzaniahttp://en.wikipedia.org/wiki/Tanzaniahttp://en.wikipedia.org/wiki/East_African_Communityhttp://en.wikipedia.org/wiki/East_African_Communityhttp://en.wikipedia.org/wiki/East_African_Communityhttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Barclays_Bankhttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Grindlays_Bankhttp://en.wikipedia.org/wiki/Grindlays_Bankhttp://en.wikipedia.org/wiki/Grindlays_Bankhttp://en.wikipedia.org/wiki/Standard_Chartered_Bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-0http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=2http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=2http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Malaysiahttp://en.wikipedia.org/wiki/Standard_Bankhttp://en.wikipedia.org/wiki/Grindlays_Bankhttp://en.wikipedia.org/wiki/Standard_Bankhttp://en.wikipedia.org/wiki/Standard_Bankhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-1http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-1http://en.wikipedia.org/wiki/Nile_Bank_Limitedhttp://en.wikipedia.org/wiki/Barclays_Bankhttp://en.wikipedia.org/wiki/Barclays_Bank_(Uganda)http://en.wikipedia.org/wiki/Barclays_Bank_(Uganda)http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-2http://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Parliamenthttp://en.wikipedia.org/wiki/Parliamenthttp://en.wikipedia.org/wiki/Parliamenthttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=3http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=3http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Kenyahttp://en.wikipedia.org/wiki/Tanzaniahttp://en.wikipedia.org/wiki/East_African_Communityhttp://en.wikipedia.org/wiki/East_African_Communityhttp://en.wikipedia.org/wiki/Bank_of_Barodahttp://en.wikipedia.org/wiki/Barclays_Bankhttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Bank_of_Indiahttp://en.wikipedia.org/wiki/Grindlays_Bankhttp://en.wikipedia.org/wiki/Standard_Chartered_Bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-0http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=2http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Malaysiahttp://en.wikipedia.org/wiki/Standard_Bankhttp://en.wikipedia.org/wiki/Grindlays_Bankhttp://en.wikipedia.org/wiki/Standard_Bankhttp://en.wikipedia.org/wiki/Standard_Bankhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-1http://en.wikipedia.org/wiki/Nile_Bank_Limitedhttp://en.wikipedia.org/wiki/Barclays_Bankhttp://en.wikipedia.org/wiki/Barclays_Bank_(Uganda)http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-2http://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Parliamenthttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=3 -
8/8/2019 Savings Bank Related Lit
12/19
The moratorium on new banks was lifted in July 2007. During the eighteen (18) months that followed the
lifting of the moratorium, eight (8) new commercial banks were licensed. These included Kenya
Commercial Bank,Equity Bank and Fina Bank, all from Kenya. Global Trust BankandUnited Bank for
Africa trace their roots fromNigeria. Ecobank is headquartered inTogo and Housing Finance Bank is an
indigenous operation. Three other banks, ABC Bank (Kenya),Access Bankfrom Nigeria and CRDB
Bank fromTanzania, have publicly declared their intention to start banking operations in Uganda in 2009.
[4][5]
During 2008 and 2009, several of the existing banks went on an accelerated branch expansion either
through mergers and acquisitions or through denovo branch openings. As of October 2010, there are
twenty-two (22) licensedcommercial banksinUganda, with nearly four hundred (400) bank branches and
a total of almost six hundred (600) ATMs.[6]
As of December 2009, total commercial bank assets in Uganda were estimated at US$4.6 billion (UGX
8.73 trillion).[7] (Official Exchange Rate in December 2009 was US$1=UGX:1,897)[8] The number of bank
accounts in the country is over five (5) million. This represents a 16% penetration, given Uganda's
population of 32,000,000.[9]
Rwanda formally joined theEast African Development Bank in July 2008.Burundi, as well, is expected to
join the bank in the near future.[10]In April 2009, Bank PHB,Nigeria's fifth largest bank, bought 80%
ownership ofOrient Bank, Uganda's 8th largest commercial bank. This brings the current number of
Ugandan banks with major investments from Nigeria to three (3).[11]
In November 2010, Bank of Uganda, the national banking regulator, directed that all commercial banksin
Uganda, must raise their minimum capital to Ugx:10 billion (approximately US$4.34 million) by March
2011 and to Ugx:25 billion (approximately US$11 million) by March 2013. Any new commercial bank
entering the Ugandan market effective November 2010, has to have a minimum capitalization of Ugx:25
billion.[12]
[edit]Classification of Financial Institutions
[edit]Tier I Financial Institutions
This class includes commercial banks which are authorized to hold checking,savings and time-
deposit accounts for individuals and institutions in local as well as International currencies. Commercial
banks are also authorized to buy and sell foreign exchange, issue letters of credit and make loans to
depositors and non-depositors.[13]
Asset Allocation Among Commercial Banks
As of December 2010, it is estimated that asset allocation among the twenty the twenty-two (22)
operational Ugandancommercial banksbreaks down as follows:
http://en.wikipedia.org/wiki/Kenya_Commercial_Bank_(Uganda)http://en.wikipedia.org/wiki/Kenya_Commercial_Bank_(Uganda)http://en.wikipedia.org/wiki/Equity_Bank_(Uganda)http://en.wikipedia.org/wiki/Equity_Bank_(Uganda)http://en.wikipedia.org/wiki/Fina_Bank_(Uganda)http://en.wikipedia.org/wiki/Fina_Bank_(Uganda)http://en.wikipedia.org/wiki/Kenyahttp://en.wikipedia.org/wiki/Global_Trust_Bankhttp://en.wikipedia.org/wiki/Global_Trust_Bankhttp://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Ecobankhttp://en.wikipedia.org/wiki/Togohttp://en.wikipedia.org/wiki/Housing_Finance_Bankhttp://en.wikipedia.org/wiki/ABC_Bank_(Kenya)http://en.wikipedia.org/wiki/Access_Bankhttp://en.wikipedia.org/wiki/Access_Bankhttp://en.wikipedia.org/wiki/Access_Bankhttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/CRDB_Bankhttp://en.wikipedia.org/wiki/CRDB_Bankhttp://en.wikipedia.org/wiki/Tanzaniahttp://en.wikipedia.org/wiki/Tanzaniahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-3http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-4http://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Automated_teller_machinehttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-5http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-6http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-6http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-7http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-8http://en.wikipedia.org/wiki/Rwandahttp://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/Burundihttp://en.wikipedia.org/wiki/Burundihttp://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-9http://en.wikipedia.org/wiki/Bank_PHBhttp://en.wikipedia.org/wiki/Bank_PHBhttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Orient_Bankhttp://en.wikipedia.org/wiki/Orient_Bankhttp://en.wikipedia.org/wiki/Orient_Bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-10http://en.wikipedia.org/wiki/Bank_of_Ugandahttp://en.wikipedia.org/wiki/Bank_of_Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-11http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-11http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=4http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=4http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=5http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=5http://en.wikipedia.org/wiki/Chequehttp://en.wikipedia.org/wiki/Chequehttp://en.wikipedia.org/wiki/Savingshttp://en.wikipedia.org/wiki/Account_(accountancy)http://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-12http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Kenya_Commercial_Bank_(Uganda)http://en.wikipedia.org/wiki/Kenya_Commercial_Bank_(Uganda)http://en.wikipedia.org/wiki/Equity_Bank_(Uganda)http://en.wikipedia.org/wiki/Fina_Bank_(Uganda)http://en.wikipedia.org/wiki/Kenyahttp://en.wikipedia.org/wiki/Global_Trust_Bankhttp://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Ecobankhttp://en.wikipedia.org/wiki/Togohttp://en.wikipedia.org/wiki/Housing_Finance_Bankhttp://en.wikipedia.org/wiki/ABC_Bank_(Kenya)http://en.wikipedia.org/wiki/Access_Bankhttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/CRDB_Bankhttp://en.wikipedia.org/wiki/CRDB_Bankhttp://en.wikipedia.org/wiki/Tanzaniahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-3http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-4http://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Automated_teller_machinehttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-5http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-6http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-7http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-8http://en.wikipedia.org/wiki/Rwandahttp://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/Burundihttp://en.wikipedia.org/wiki/Bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-9http://en.wikipedia.org/wiki/Bank_PHBhttp://en.wikipedia.org/wiki/Nigeriahttp://en.wikipedia.org/wiki/Orient_Bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-10http://en.wikipedia.org/wiki/Bank_of_Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-11http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=4http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=5http://en.wikipedia.org/wiki/Chequehttp://en.wikipedia.org/wiki/Savingshttp://en.wikipedia.org/wiki/Account_(accountancy)http://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-12http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Commercial_bank -
8/8/2019 Savings Bank Related Lit
13/19
List of Licensed Commercial Banks
List of Licensed Commercial Banks
Ra
nk Bank
Market
Share
(Asset
s)
Number
of
Branch
es
1Stanbic
Bank24% 67
2
Standard
Chartered
Bank
15% 10
3Barclays
Bank12% 65[14]
4 DFCU Bank 08% 24
5Centenary
Bank07% 37
6 Crane Bank 06% 15
7 Citibank 04% 01
8Bank of
Baroda04% 10
9 Orient Bank 03% 12
10
Housing
Finance
Bank
03% 12
11Tropical
Bank03% 07
12Bank of
Africa03% 21
13 Equity Bank 1.5% 47
http://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Standard_Chartered_Bank_(Uganda)http://en.wikipedia.org/wiki/Standard_Chartered_Bank_(Uganda)http://en.wikipedia.org/wiki/Standard_Chartered_Bank_(Uganda)http://en.wikipedia.org/wiki/Barclays_Bank_(Uganda)http://en.wikipedia.org/wiki/Barclays_Bank_(Uganda)http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-13http://en.wikipedia.org/wiki/DFCU_Bankhttp://en.wikipedia.org/wiki/Centenary_Bankhttp://en.wikipedia.org/wiki/Centenary_Bankhttp://en.wikipedia.org/wiki/Crane_Bankhttp://en.wikipedia.org/wiki/Citibankhttp://en.wikipedia.org/wiki/Bank_of_Baroda_(Uganda)http://en.wikipedia.org/wiki/Bank_of_Baroda_(Uganda)http://en.wikipedia.org/wiki/Orient_Bankhttp://en.wikipedia.org/wiki/Housing_Finance_Bankhttp://en.wikipedia.org/wiki/Housing_Finance_Bankhttp://en.wikipedia.org/wiki/Housing_Finance_Bankhttp://en.wikipedia.org/wiki/Tropical_Bankhttp://en.wikipedia.org/wiki/Tropical_Bankhttp://en.wikipedia.org/wiki/Bank_of_Africa_(Uganda)http://en.wikipedia.org/wiki/Bank_of_Africa_(Uganda)http://en.wikipedia.org/wiki/Equity_Bank_(Uganda)http://en.wikipedia.org/wiki/Banking_in_Ugandahttp://en.wikipedia.org/wiki/Banking_in_Ugandahttp://en.wikipedia.org/wiki/Banking_in_Ugandahttp://en.wikipedia.org/wiki/Banking_in_Ugandahttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Stanbic_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Standard_Chartered_Bank_(Uganda)http://en.wikipedia.org/wiki/Standard_Chartered_Bank_(Uganda)http://en.wikipedia.org/wiki/Standard_Chartered_Bank_(Uganda)http://en.wikipedia.org/wiki/Barclays_Bank_(Uganda)http://en.wikipedia.org/wiki/Barclays_Bank_(Uganda)http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-13http://en.wikipedia.org/wiki/DFCU_Bankhttp://en.wikipedia.org/wiki/Centenary_Bankhttp://en.wikipedia.org/wiki/Centenary_Bankhttp://en.wikipedia.org/wiki/Crane_Bankhttp://en.wikipedia.org/wiki/Citibankhttp://en.wikipedia.org/wiki/Bank_of_Baroda_(Uganda)http://en.wikipedia.org/wiki/Bank_of_Baroda_(Uganda)http://en.wikipedia.org/wiki/Orient_Bankhttp://en.wikipedia.org/wiki/Housing_Finance_Bankhttp://en.wikipedia.org/wiki/Housing_Finance_Bankhttp://en.wikipedia.org/wiki/Housing_Finance_Bankhttp://en.wikipedia.org/wiki/Tropical_Bankhttp://en.wikipedia.org/wiki/Tropical_Bankhttp://en.wikipedia.org/wiki/Bank_of_Africa_(Uganda)http://en.wikipedia.org/wiki/Bank_of_Africa_(Uganda)http://en.wikipedia.org/wiki/Equity_Bank_(Uganda) -
8/8/2019 Savings Bank Related Lit
14/19
14Diamond
Trust Bank01% 15
15
Kenya
Commercial
Bank
01% 15
16
United
Bank for
Africa
01% 09
17Global
Trust Bank01% 8
18 Ecobank 01% 09
19
Cairo
Internation
al Bank
0.5% 01
20 Fina Bank 0.5% 06
21ABC Capital
Bank0.3% 01
22
National
Bank of
Commerce
0.2% 02
Tot
al
Twenty
Two100.0 394
[edit]Tier II Financial Institutions
This class includes Credit and
Finance companies. They are not
authorized to establish checking
accounts or trade in foreign
currency. They are authorized to
take in customer deposits and to
establish savings accounts. Theyare also authorized to make
collateralized and non-
collateralized loans to savings and
non-savings customers:[15]
Mercantile Credit Bank
http://en.wikipedia.org/wiki/Diamond_Trust_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Diamond_Trust_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/KCB_Ugandahttp://en.wikipedia.org/wiki/KCB_Ugandahttp://en.wikipedia.org/wiki/KCB_Ugandahttp://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/Global_Trust_Bankhttp://en.wikipedia.org/wiki/Global_Trust_Bankhttp://en.wikipedia.org/wiki/Ecobank_(Uganda)http://en.wikipedia.org/wiki/Cairo_International_Bankhttp://en.wikipedia.org/wiki/Cairo_International_Bankhttp://en.wikipedia.org/wiki/Cairo_International_Bankhttp://en.wikipedia.org/wiki/Fina_Bank_(Uganda)http://en.wikipedia.org/wiki/ABC_Bank_(Uganda)http://en.wikipedia.org/wiki/ABC_Bank_(Uganda)http://en.wikipedia.org/wiki/National_Bank_of_Commerce_(Uganda)http://en.wikipedia.org/wiki/National_Bank_of_Commerce_(Uganda)http://en.wikipedia.org/wiki/National_Bank_of_Commerce_(Uganda)http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=6http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-14http://en.wikipedia.org/wiki/Mercantile_Credit_Bankhttp://en.wikipedia.org/wiki/Diamond_Trust_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/Diamond_Trust_Bank_(Uganda)_Limitedhttp://en.wikipedia.org/wiki/KCB_Ugandahttp://en.wikipedia.org/wiki/KCB_Ugandahttp://en.wikipedia.org/wiki/KCB_Ugandahttp://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/United_Bank_for_Africa_(Uganda)http://en.wikipedia.org/wiki/Global_Trust_Bankhttp://en.wikipedia.org/wiki/Global_Trust_Bankhttp://en.wikipedia.org/wiki/Ecobank_(Uganda)http://en.wikipedia.org/wiki/Cairo_International_Bankhttp://en.wikipedia.org/wiki/Cairo_International_Bankhttp://en.wikipedia.org/wiki/Cairo_International_Bankhttp://en.wikipedia.org/wiki/Fina_Bank_(Uganda)http://en.wikipedia.org/wiki/ABC_Bank_(Uganda)http://en.wikipedia.org/wiki/ABC_Bank_(Uganda)http://en.wikipedia.org/wiki/National_Bank_of_Commerce_(Uganda)http://en.wikipedia.org/wiki/National_Bank_of_Commerce_(Uganda)http://en.wikipedia.org/wiki/National_Bank_of_Commerce_(Uganda)http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=6http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-14http://en.wikipedia.org/wiki/Mercantile_Credit_Bank -
8/8/2019 Savings Bank Related Lit
15/19
Opportunity Uganda
Limited - A 100% subsidiary
ofOpportunity International[16]
PostBank Uganda
[edit]Tier III Financial Institutions
This class includes microfinance
institutions which are allowed to
take in deposits from customers in
the form of savings accounts.
Members of this class of
institutions are also known as
Microfinance Deposit-taking
Institutions or MDIs. MDIs are not
authorized to offer checking
accounts or to trade in foreign
currency.[17]
FINCA Uganda Limited
Pride Microfinance Limited
Uganda Finance Trust
Limited
[edit]Tier IV Institutions
These institutions are not regulated
by the Bank of Uganda. They are
not authorized to take in deposits
from the public. However, they
may offer collateralized or non-
collateralized loans to the public. In
2008, it is estimated that there are
over 1,000 such institutions in the
country.[18]
[edit]Development Banks
East African Development
Bank
Uganda Development Bank
[edit]Investment Banks
http://en.wikipedia.org/wiki/Opportunity_Uganda_Limitedhttp://en.wikipedia.org/wiki/Opportunity_Uganda_Limitedhttp://en.wikipedia.org/wiki/Opportunity_Internationalhttp://en.wikipedia.org/wiki/Opportunity_Internationalhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-15http://en.wikipedia.org/wiki/PostBank_Ugandahttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=7http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-16http://en.wikipedia.org/wiki/FINCA_Uganda_Limitedhttp://en.wikipedia.org/wiki/Pride_Microfinance_Limitedhttp://en.wikipedia.org/wiki/Uganda_Finance_Trust_Limitedhttp://en.wikipedia.org/wiki/Uganda_Finance_Trust_Limitedhttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=8http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-17http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=9http://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/Uganda_Development_Bankhttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=10http://en.wikipedia.org/wiki/Opportunity_Uganda_Limitedhttp://en.wikipedia.org/wiki/Opportunity_Uganda_Limitedhttp://en.wikipedia.org/wiki/Opportunity_Internationalhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-15http://en.wikipedia.org/wiki/PostBank_Ugandahttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=7http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-16http://en.wikipedia.org/wiki/FINCA_Uganda_Limitedhttp://en.wikipedia.org/wiki/Pride_Microfinance_Limitedhttp://en.wikipedia.org/wiki/Uganda_Finance_Trust_Limitedhttp://en.wikipedia.org/wiki/Uganda_Finance_Trust_Limitedhttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=8http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-17http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=9http://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/East_African_Development_Bankhttp://en.wikipedia.org/wiki/Uganda_Development_Bankhttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=10 -
8/8/2019 Savings Bank Related Lit
16/19
African Alliance Investment
Bank
Dyer & Blair Investment
Bank
Merchant Bank of East
Africa (MBEA)
Renaissance Capital
Investment Bank
[edit]Insurance companies
Main article: List of insurance
companies in Uganda
There are twenty-five
(25) insurance companies in
Uganda, as of March 2010.
[edit]Foreign exchange bureaus
Main article:List of foreign
exchange bureaus in Uganda
Other regulated financial
institutions include one hundred
and twenty three (123) licensed
foreign exchange bureaus, of which
92% are located in Kampala, the
capital city and only 8% are located
outside of Kampala.
[edit]Deposit Insurance
The Deposit Insurance Scheme was
established in 1994 and became
operational in 1997. It is funded by
premiums charged to every
licensed deposit-taking financial
institution in the country. Each
account is protected to the tune
ofUganda Shillings(UGX) 3 million
(approx. US$1,800).[19] The
Depositor Insurance Law was
enacted by Parliament and states
that all depositors must be paid
within ninety (90) days of a bank
http://en.wikipedia.org/w/index.php?title=African_Alliance_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=African_Alliance_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Dyer_%26_Blair_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Dyer_%26_Blair_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Merchant_Bank_of_East_Africa&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Merchant_Bank_of_East_Africa&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Renaissance_Capital_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Renaissance_Capital_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Renaissance_Capital_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=11http://en.wikipedia.org/wiki/List_of_insurance_companies_in_Ugandahttp://en.wikipedia.org/wiki/List_of_insurance_companies_in_Ugandahttp://en.wikipedia.org/wiki/List_of_insurance_companies_in_Ugandahttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=12http://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/Kampalahttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=13http://en.wikipedia.org/wiki/Uganda_Shillinghttp://en.wikipedia.org/wiki/Uganda_Shillinghttp://en.wikipedia.org/wiki/UGXhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-18http://en.wikipedia.org/wiki/Parliamenthttp://en.wikipedia.org/w/index.php?title=African_Alliance_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=African_Alliance_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Dyer_%26_Blair_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Dyer_%26_Blair_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Merchant_Bank_of_East_Africa&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Merchant_Bank_of_East_Africa&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Renaissance_Capital_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Renaissance_Capital_Investment_Bank&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=11http://en.wikipedia.org/wiki/List_of_insurance_companies_in_Ugandahttp://en.wikipedia.org/wiki/List_of_insurance_companies_in_Ugandahttp://en.wikipedia.org/wiki/List_of_insurance_companies_in_Ugandahttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=12http://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/List_of_foreign_exchange_bureaus_in_Ugandahttp://en.wikipedia.org/wiki/Kampalahttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=13http://en.wikipedia.org/wiki/Uganda_Shillinghttp://en.wikipedia.org/wiki/UGXhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-18http://en.wikipedia.org/wiki/Parliament -
8/8/2019 Savings Bank Related Lit
17/19
failure and the failing institution
must be sold by the auctioning of
its assets within six (6) months of
its seizure by the central bank. If
the central bank determines that
the failed institution will fetch a
better economic return, if sold as a
whole, then it will re-open under
new ownership and management,
provided the new owners and
managers meet the approval of
the Bank of Uganda. [20]
[edit]Credit Bureau
In 2008, a credit reference bureau
was established for the first time
in Uganda. The
bureau, Compuscan, based
in South Africa, has subsidiaries
in Botswana, Namibia, Rwandaand
Uganda, with new ones planned
in Kenyaand Zambia. [21]
With improved credit risk
assessment afforded by thecredit
bureau, new products including
medium and long-term financing
like car loansand mortgages have
been introduced bymostUgandancommercial banks.
As of February 2010, interest rates
which were in the 20% to 30%
range before 2008, were down to
as low as 10%, for the best
customers at some banks.[22]
[edit]External links
Overview of Uganda
Banking Sector April 2010
Resurgence of Uganda's
Banking Sector
UBA Uganda had US$77
million in Assets in 2008 & 130
http://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Bank_of_Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-19http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=14http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Compuscanhttp://en.wikipedia.org/wiki/South_Africahttp://en.wikipedia.org/wiki/Botswanahttp://en.wikipedia.org/wiki/Namibiahttp://en.wikipedia.org/wiki/Rwandahttp://en.wikipedia.org/wiki/Rwandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Kenyahttp://en.wikipedia.org/wiki/Kenyahttp://en.wikipedia.org/wiki/Zambiahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-20http://en.wikipedia.org/wiki/Credit_bureauhttp://en.wikipedia.org/wiki/Credit_bureauhttp://en.wikipedia.org/wiki/Credit_bureauhttp://en.wikipedia.org/wiki/Car_loanhttp://en.wikipedia.org/wiki/Car_loanhttp://en.wikipedia.org/wiki/Mortgage_loanhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-21http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=15http://www.monitor.co.ug/Business/Business%20Power/-/688616/897912/-/l588sh/-/index.htmlhttp://www.monitor.co.ug/Business/Business%20Power/-/688616/897912/-/l588sh/-/index.htmlhttp://www.thebanker.com/news/fullstory.php/aid/5976/Big_names_reeled_in_by_Ugandan_rebirth.htmlhttp://www.thebanker.com/news/fullstory.php/aid/5976/Big_names_reeled_in_by_Ugandan_rebirth.htmlhttp://www.rwandagateway.org/article.php3?id_article=10379http://www.rwandagateway.org/article.php3?id_article=10379http://en.wikipedia.org/wiki/Central_bankhttp://en.wikipedia.org/wiki/Bank_of_Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-19http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=14http://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Compuscanhttp://en.wikipedia.org/wiki/South_Africahttp://en.wikipedia.org/wiki/Botswanahttp://en.wikipedia.org/wiki/Namibiahttp://en.wikipedia.org/wiki/Rwandahttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Kenyahttp://en.wikipedia.org/wiki/Zambiahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-20http://en.wikipedia.org/wiki/Credit_bureauhttp://en.wikipedia.org/wiki/Credit_bureauhttp://en.wikipedia.org/wiki/Car_loanhttp://en.wikipedia.org/wiki/Mortgage_loanhttp://en.wikipedia.org/wiki/Ugandahttp://en.wikipedia.org/wiki/Commercial_bankhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_note-21http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=15http://www.monitor.co.ug/Business/Business%20Power/-/688616/897912/-/l588sh/-/index.htmlhttp://www.monitor.co.ug/Business/Business%20Power/-/688616/897912/-/l588sh/-/index.htmlhttp://www.thebanker.com/news/fullstory.php/aid/5976/Big_names_reeled_in_by_Ugandan_rebirth.htmlhttp://www.thebanker.com/news/fullstory.php/aid/5976/Big_names_reeled_in_by_Ugandan_rebirth.htmlhttp://www.rwandagateway.org/article.php3?id_article=10379http://www.rwandagateway.org/article.php3?id_article=10379 -
8/8/2019 Savings Bank Related Lit
18/19
Employees
[edit]See also
List of Financial Institutions
in Uganda
Institutions Supervised by
Bank of Uganda
List of banks in Uganda
List of banks in Africa
[edit]References
1. ^ Library of
Congress Online Catalog:
Country Studies - Uganda
2. ^ Stanbic Bank
Uganda
3. ^ Nile Bank Limited
4. ^ Kenyan Banks
Make Aggressive Entry
Moves
5. ^ Access Bank
Expands into East Africa
6. ^ Uganda Has
Almost 400 Bank Branches
and Nearly 600 ATMs
7. ^ Banking Sector
Gains Resilience
8. ^ Official Monthly
Exchange Rate Averages
From July 1990 to Present
9. ^ 16% of Ugandans
Have Bank Accounts
10. ^ Ownership of
EADB
http://www.rwandagateway.org/article.php3?id_article=10379http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=16http://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://www.bou.or.ug/bouwebsite/opencms/bou/regulation_supervision/supervised_institutions.htmlhttp://www.bou.or.ug/bouwebsite/opencms/bou/regulation_supervision/supervised_institutions.htmlhttp://en.wikipedia.org/wiki/List_of_banks_in_Ugandahttp://en.wikipedia.org/wiki/List_of_banks_in_Africahttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=17http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-0http://lcweb2.loc.gov/cgi-bin/query/r?frd/cstdy:@field(DOCID+ug0102)http://lcweb2.loc.gov/cgi-bin/query/r?frd/cstdy:@field(DOCID+ug0102)http://lcweb2.loc.gov/cgi-bin/query/r?frd/cstdy:@field(DOCID+ug0102)http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-1http://www.stanbicbank.co.ug/SBIC/Frontdoor_07_02/0,2493,9681341_9757102_0,00.htmlhttp://www.stanbicbank.co.ug/SBIC/Frontdoor_07_02/0,2493,9681341_9757102_0,00.htmlhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-2http://en.wikipedia.org/wiki/Nile_Bank_Limitedhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-3http://www.africanexecutive.com/modules/magazine/articles.php?article=3800http://www.africanexecutive.com/modules/magazine/articles.php?article=3800http://www.africanexecutive.com/modules/magazine/articles.php?article=3800http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-4http://www.vanguardngr.com/index.php?option=com_content&task=view&id=8460&Itemid=42http://www.vanguardngr.com/index.php?option=com_content&task=view&id=8460&Itemid=42http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-5http://newvision.co.ug/D/8/220/736177http://newvision.co.ug/D/8/220/736177http://newvision.co.ug/D/8/220/736177http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-6http://allafrica.com/stories/201007080124.htmlhttp://allafrica.com/stories/201007080124.htmlhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-7http://www.bou.or.ug/bouwebsite/opencms/bou/rates_statistics/statistics/monthly_exchange_rates.htmlhttp://www.bou.or.ug/bouwebsite/opencms/bou/rates_statistics/statistics/monthly_exchange_rates.htmlhttp://www.bou.or.ug/bouwebsite/opencms/bou/rates_statistics/statistics/monthly_exchange_rates.htmlhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-8http://newvision.co.ug/D/8/220/679805http://newvision.co.ug/D/8/220/679805http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-9http://en.wikipedia.org/wiki/EADB#Ownershiphttp://en.wikipedia.org/wiki/EADB#Ownershiphttp://www.rwandagateway.org/article.php3?id_article=10379http://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=16http://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://www.bou.or.ug/bouwebsite/opencms/bou/regulation_supervision/supervised_institutions.htmlhttp://www.bou.or.ug/bouwebsite/opencms/bou/regulation_supervision/supervised_institutions.htmlhttp://en.wikipedia.org/wiki/List_of_banks_in_Ugandahttp://en.wikipedia.org/wiki/List_of_banks_in_Africahttp://en.wikipedia.org/w/index.php?title=Banking_in_Uganda&action=edit§ion=17http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-0http://lcweb2.loc.gov/cgi-bin/query/r?frd/cstdy:@field(DOCID+ug0102)http://lcweb2.loc.gov/cgi-bin/query/r?frd/cstdy:@field(DOCID+ug0102)http://lcweb2.loc.gov/cgi-bin/query/r?frd/cstdy:@field(DOCID+ug0102)http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-1http://www.stanbicbank.co.ug/SBIC/Frontdoor_07_02/0,2493,9681341_9757102_0,00.htmlhttp://www.stanbicbank.co.ug/SBIC/Frontdoor_07_02/0,2493,9681341_9757102_0,00.htmlhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-2http://en.wikipedia.org/wiki/Nile_Bank_Limitedhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-3http://www.africanexecutive.com/modules/magazine/articles.php?article=3800http://www.africanexecutive.com/modules/magazine/articles.php?article=3800http://www.africanexecutive.com/modules/magazine/articles.php?article=3800http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-4http://www.vanguardngr.com/index.php?option=com_content&task=view&id=8460&Itemid=42http://www.vanguardngr.com/index.php?option=com_content&task=view&id=8460&Itemid=42http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-5http://newvision.co.ug/D/8/220/736177http://newvision.co.ug/D/8/220/736177http://newvision.co.ug/D/8/220/736177http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-6http://allafrica.com/stories/201007080124.htmlhttp://allafrica.com/stories/201007080124.htmlhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-7http://www.bou.or.ug/bouwebsite/opencms/bou/rates_statistics/statistics/monthly_exchange_rates.htmlhttp://www.bou.or.ug/bouwebsite/opencms/bou/rates_statistics/statistics/monthly_exchange_rates.htmlhttp://www.bou.or.ug/bouwebsite/opencms/bou/rates_statistics/statistics/monthly_exchange_rates.htmlhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-8http://newvision.co.ug/D/8/220/679805http://newvision.co.ug/D/8/220/679805http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-9http://en.wikipedia.org/wiki/EADB#Ownershiphttp://en.wikipedia.org/wiki/EADB#Ownership -
8/8/2019 Savings Bank Related Lit
19/19
11. ^ Bank PHB Buys
80% of Orient Bank
12. ^ Bank of Uganda
Raises Minimum Capital
Requirements For Banks
13. ^ List of Licensed
Commercial Banks
14. ^ Barclays Bank
Branches In Uganda
15. ^ List of Licensed
Credit Institutions
16. ^ Opportunity
International Takes Over
Faulu Uganda
17. ^ List of Deposit-
Taking Microfinance
Institutions
18. ^ Non Deposit-
Taking Microfinance
Institutions
19. ^ Review ofUganda's Banking Sector
2009
20. ^ Intervention
Policies of Bank of Uganda
21. ^ Compuscan
Uganda
22. ^ PostBank Uganda
Offers 10% Interest on
Agricultural Loans
http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-10http://newvision.co.ug/D/8/220/679502/Bank_PHBhttp://newvision.co.ug/D/8/220/679502/Bank_PHBhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-11http://newvision.co.ug/D/8/220/738118http://newvision.co.ug/D/8/220/738118http://newvision.co.ug/D/8/220/738118http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-12http://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/financial_institutions/2010/Licensed_Commercial_Banks_as_at_31_August_2010.pdfhttp://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/financial_institutions/2010/Licensed_Commercial_Banks_as_at_31_August_2010.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-13http://www.business.barclays.co.uk/BBB/A/Content/Files/35755_Uganda.pdfhttp://www.business.barclays.co.uk/BBB/A/Content/Files/35755_Uganda.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-14http://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/financial_institutions/2010/CREDIT_INSTITUTIONS_LICENSED_IN_UGANDA_as_at_31_August_2010.pdfhttp://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/financial_institutions/2010/CREDIT_INSTITUTIONS_LICENSED_IN_UGANDA_as_at_31_August_2010.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-15http://newvision.co.ug/D/8/220/704246http://newvision.co.ug/D/8/220/704246http://newvision.co.ug/D/8/220/704246http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-16http://www.bou.or.ug/MFDep.pdfhttp://www.bou.or.ug/MFDep.pdfhttp://www.bou.or.ug/MFDep.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-17http://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-18http://fic.wharton.upenn.edu/fic/africa/Uganda%20Final.pdfhttp://fic.wharton.upenn.edu/fic/africa/Uganda%20Final.pdfhttp://fic.wharton.upenn.edu/fic/africa/Uganda%20Final.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-19http://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/acts/other_acts_regulations/intervention_policy_GoU_270597.pdfhttp://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/acts/other_acts_regulations/intervention_policy_GoU_270597.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-20http://www.compuscan.co.za/live/content.php?Item_ID=183http://www.compuscan.co.za/live/content.php?Item_ID=183http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-21http://www.monitor.co.ug/Business/-/688322/853176/-/efxnewz/-/index.htmlhttp://www.monitor.co.ug/Business/-/688322/853176/-/efxnewz/-/index.htmlhttp://www.monitor.co.ug/Business/-/688322/853176/-/efxnewz/-/index.htmlhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-10http://newvision.co.ug/D/8/220/679502/Bank_PHBhttp://newvision.co.ug/D/8/220/679502/Bank_PHBhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-11http://newvision.co.ug/D/8/220/738118http://newvision.co.ug/D/8/220/738118http://newvision.co.ug/D/8/220/738118http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-12http://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/financial_institutions/2010/Licensed_Commercial_Banks_as_at_31_August_2010.pdfhttp://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/financial_institutions/2010/Licensed_Commercial_Banks_as_at_31_August_2010.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-13http://www.business.barclays.co.uk/BBB/A/Content/Files/35755_Uganda.pdfhttp://www.business.barclays.co.uk/BBB/A/Content/Files/35755_Uganda.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-14http://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/financial_institutions/2010/CREDIT_INSTITUTIONS_LICENSED_IN_UGANDA_as_at_31_August_2010.pdfhttp://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/financial_institutions/2010/CREDIT_INSTITUTIONS_LICENSED_IN_UGANDA_as_at_31_August_2010.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-15http://newvision.co.ug/D/8/220/704246http://newvision.co.ug/D/8/220/704246http://newvision.co.ug/D/8/220/704246http://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-16http://www.bou.or.ug/MFDep.pdfhttp://www.bou.or.ug/MFDep.pdfhttp://www.bou.or.ug/MFDep.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-17http://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://en.wikipedia.org/wiki/List_of_banks_in_Africa#.C2.A0Ugandahttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-18http://fic.wharton.upenn.edu/fic/africa/Uganda%20Final.pdfhttp://fic.wharton.upenn.edu/fic/africa/Uganda%20Final.pdfhttp://fic.wharton.upenn.edu/fic/africa/Uganda%20Final.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-19http://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/acts/other_acts_regulations/intervention_policy_GoU_270597.pdfhttp://www.bou.or.ug/bouwebsite/export/sites/default/bou/bou-downloads/acts/other_acts_regulations/intervention_policy_GoU_270597.pdfhttp://en.wikipedia.org/wiki/Banking_in_Uganda#cite_ref-20http://www.compuscan.co.za/live/content.php?Item_ID=183http://www.compuscan.co.za/live/content.