TABLE OF CONTENTS
DECLARATION ................................................................................................................................................ i
APPROVAL. ..................................................................................................................................................... ii
DEDICATION ....... , ............................................................................................................ , ............................ iii
ACKNOWLEDGEMENT ............................................................................................................................. iv
LIST OF CASES ............................................................................................................................................... v
TABLE OF CONTENTS ............................................................................................................................... vi
ABSTRACT ..................................................................................................................................................... ix
CHAPTER 0 NE ........................................................................................................................... 1
INTRODUCTION ........................................................................................................................ 1
1.1 Background ............................................................................................................................................. 1
1.2 Statement of the problem ................................................................................................................. 3
1.3 Objectives of the study Main Objective ........................................................................................ 3
1.4 Scope of the study ................................................................................................................................ 4
1.5 Significance of the study .................................................................................................................... 4
1.6 Methodology ........................................................................................................................................... 4
1. 7 Literature review .................................................................................................................................. 5
1.8 Organizational layout ......................................................................................................................... 8
CHAPTER TW0 ........................................................................................................................ 10
CONCEPTUAL ANALYSIS AND DIFINITION OF TERMS .................................................. 10
2.1 Introduction ......................................................................................................................................... 10
2.1.3 History of banking law and practice in Uganda .................................................................. 11
2.1.4 Evaluation of bank of Uganda .................................................................................................... 11
2.1.5 Functions ofBankofUganda ...................................................................................................... 12
2.1.6 Institutional and legal framework for banking and banking practice in Uganda .. 13
2.2 Payment systems in Uganda .......................................................................................................... 13
2.2.1 Payment instruments in Uganda .............................................................................................. 16
2.2.3 Challenges of the existing payment systems in Uganda .................................................. 16
2.2.4 Comparison between electronic banking risks and paper-based transactions ..... 20
vi
2.2.5 Recent Developments in the banking industry in Uganda ............................................. 24
CHAPTER THREE .................................................................................................................... 2 6
LEGAL FRAMEWQRK FOR ELECTRONIC BANKING IN UGANDA ........... , ..................... 26
3.1 THE CONSTITUTION OF REPUBLIC OF UGANDA 1995 ...................................................... 26
3.2 THE CENTRAL BANK ........................................................................................................................ 26
3.4 Financial Institutions (Amendment Act) 2016 ....................................................................... 38
3.5 UGANDA CLEARING HOUSE RULES AND PROCEDURES (March 2018) ....................... 39
CHAPTER FOUR ...................................................................................................................... 40
ANALYSIS OF ELECTRONIC BANKING IN UGANDA ........................................................ 40
4.1 Legal analysis ...................................................................................................................................... .40
4.1.1 Ineffectiveness of the relevant regulations ......................................................................... .40
4.1.2 Electronically generated evidence ........................................................................................... 40
4.1.3 Contract laws .................................................................................................................................... 41
4.1.4 Criminal liability .............................................................................................................................. 42
.. . 4.1.5 Jurisdictional impediment.. ......................................................................................................... 43
4.1.6 Money laundering ........................................................................................................................... 44
4.1.7 Credit and Debit Cards (plastic) Frauds ............................................................................... .44
4.1.8 Privacy ............................................................................................................................................... .45
4.2 Non legal analysis ............................................................................................................................... 47
4.2.1 Information Communication Technology Developments (ICT) ................................... 47
4.2.2 Cost of technology .......................................................................................................................... 47
4.2.3 Public acceptance ........................................................................................................................... 4 7
4.2.4 Payment instruments limitations ............................................................................................. 48
4.2.5 Economic constraints and cash culture ................................................................................ .48
CHAPTER FIVE ........................................................................................................................ 49
CONCLUSION AND RECCOMENDATIONS .......................................................................... 49
5.1 Summary ................................................................................................................................................ 49
5.2 Findings ................................................................................................................................................. .49
vii
5. 3 Conclusion ............................................................................................................................................ 49
5.4 Recommendations .......................................................................................................................... 50
5.3 General recommendations: ............................................................................................................ 51
REFERENCES ........... 1 ............................................................................................................ , ...................... 52
ABSTRACT The Uganda financial system in Uganda is composed of commercial banks credit institutions, Micro-Finance deposit-taking institutions and the Stock exchange. Apart from the setback suffered folli;Jwing the closure of banks in 1998, 1999 and the ~ecent Crane Bank in 2016, the sector has witnessed tremendous improvement in performance indicators over the past years .it has been a big challenge for the customers is to sustain and enhance confidence in the sector especially in the systems and products provided therein. The central bank is mandated to regulate, supervise and discipline financial institutions in order to maintain their safety and soundness. The financial system supports the economy since it is the vehicle through which savings are mobilized. This intermediation role can only be successful if the general public has trust in financial institutions, especially confidence in ensuring safety of the deposits. This paper examines challenges of electronic banking In Uganda and the efforts of the Central Bank of Uganda to ensure successful transformation from traditional banking practices to practice of electronic banking in Uganda. It identifies lapses in the existing regulations on electronic banking, and argues that without a comprehensive regulation, institutional framework and improved access to information structure; it might be difficult for meaningful advances to be made in this field of electronic banking.
JOSEPH, T (2022). An Analysis of the Law Regulating Electronic Banking in Uganda. Afribary. Retrieved from https://afribary.com/works/an-analysis-of-the-law-regulating-electronic-banking-in-uganda
JOSEPH, TWESIGYE "An Analysis of the Law Regulating Electronic Banking in Uganda" Afribary. Afribary, 09 Aug. 2022, https://afribary.com/works/an-analysis-of-the-law-regulating-electronic-banking-in-uganda. Accessed 23 Nov. 2024.
JOSEPH, TWESIGYE . "An Analysis of the Law Regulating Electronic Banking in Uganda". Afribary, Afribary, 09 Aug. 2022. Web. 23 Nov. 2024. < https://afribary.com/works/an-analysis-of-the-law-regulating-electronic-banking-in-uganda >.
JOSEPH, TWESIGYE . "An Analysis of the Law Regulating Electronic Banking in Uganda" Afribary (2022). Accessed November 23, 2024. https://afribary.com/works/an-analysis-of-the-law-regulating-electronic-banking-in-uganda