By Fred Kiva
Commercial Banks under their umbrella Uganda Bankers’ Association (UBA) have petitioned Bank of Uganda (BoU) requesting relaxed regulation during the coronavirus crisis.
The coronavirus crisis has affected several businesses, while some have been suspended by government in its quest to curtail the covid-19 spread. On Wednesday President Museveni suspended public transport for two weeks, leaving only those with private transport means to move.
The President had last week closed schools and religious gatherings, while people have been urged to work from home in the wake of the coronavirus pandemic.
In his March 26, letter addressed to BoU Director in charge Supervision, Twinemanzi Tumubeine, UBA Executive Director Wilbrod Humphery Owor said “we write to notify you that member banks are facing a number of challenges in the branches following additional control measures and restrictions pronounced yesterday (Wednesday),especially those relating to public transport and by extension non-food businesses.”
“Staff at branches have also continued to highlight health, safety and security risks in the current environment,” he added. UBA members on Friday held a meeting in Kampala to discuss the effect of the coronavirus crisis on their business and how to cope up.
The bankers among others resolved and notified BoU of their decision to adjust on branch operation hours (opening and closing) to 9am-3pm on week days, while branches will now remain closed on Weekends (Saturday and Sunday).