STRACT
Banking is one of the crucial industries in nurturing economic growth or development of a
country that is why it is important to regulate the activities of banks by the central bank of a
country. In Uganda the Central Bank of Uganda is charged with responsibilities of regulating
the banking industry. The central bank regulates other banks by requiring them to have an
operating license, maintaining minimum capital requirements, liquid assets, prohibits banks
from engaging in some business such as insider lending, among others. Good regulatory
framework on banking can help to induce economic growth for instance by encouraging both
foreign and local investors who can create jobs, encourage saving habit, and ease financial
transactions, etc. But there are challenges facing the banking industry they include but not
limited to cyber crimes, poor bank branch networks, e-banking heavily relies on public
telecommunication networks which threatens banks' efficiency in case of natural and manmade
disaster. However, this work has suggested possible solutions to tackle those challenges
they include but not limited to the need to enact punitive legislation to punish those who use technological advancement to cause financial loss to banks, leveraging bank branch network.
WILSON, J (2021). An Assessment Of The Legal Framework On Banking And How It Has Helped To Induce Economic Growth In Uganda: Case Study Of Kampala District. Afribary. Retrieved from https://afribary.com/works/an-assessment-of-the-legal-framework-on-banking-and-how-it-has-helped-to-induce-economic-growth-in-uganda-case-study-of-kampala-district
WILSON, JOHN "An Assessment Of The Legal Framework On Banking And How It Has Helped To Induce Economic Growth In Uganda: Case Study Of Kampala District" Afribary. Afribary, 12 Jun. 2021, https://afribary.com/works/an-assessment-of-the-legal-framework-on-banking-and-how-it-has-helped-to-induce-economic-growth-in-uganda-case-study-of-kampala-district. Accessed 20 Apr. 2024.
WILSON, JOHN . "An Assessment Of The Legal Framework On Banking And How It Has Helped To Induce Economic Growth In Uganda: Case Study Of Kampala District". Afribary, Afribary, 12 Jun. 2021. Web. 20 Apr. 2024. < https://afribary.com/works/an-assessment-of-the-legal-framework-on-banking-and-how-it-has-helped-to-induce-economic-growth-in-uganda-case-study-of-kampala-district >.
WILSON, JOHN . "An Assessment Of The Legal Framework On Banking And How It Has Helped To Induce Economic Growth In Uganda: Case Study Of Kampala District" Afribary (2021). Accessed April 20, 2024. https://afribary.com/works/an-assessment-of-the-legal-framework-on-banking-and-how-it-has-helped-to-induce-economic-growth-in-uganda-case-study-of-kampala-district