Bank of Uganda has come out to pronounce itself regarding the Commercial Court ruling in the matter of M/s Ham Enterprises and others –vs- Diamond Trust Bank (u) Ltd and Another. This was in a statement issued on the 09 October, 2020

The statement reads:-

“Bank of Uganda (BoU) has taken note of the judgement of the Commercial Division of the High Court in Misc. Application No. 654 of 2020 and High Court Civil Suit No. 43 of 2020 involving M/s Ham Enterprises and Others -Vs Diamond Trust Bank (U) Ltd and Another, which was delivered on October 07, 2020.

We await the detailed written judgement of the Court to assess its implications and to determine an appropriate response thereto, including any future actions with regard to the matter.

Bank of Uganda would like to reassure all stakeholders and
the general public that the BoU remains committed to
ensuring a resilient, sound and stable financial sector.”

The statement came after Uganda Bankers Association had called out many stakeholders for intervention, including Bank of Uganda.

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