An Assessment Of The Legal Framework On Banking And How It Has Helped To Induce Economic Growth In Uganda: Case Study Of Kampala District

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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.

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APA

Research, S. & 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

MLA 8th

Research, SSA, and JOHN WILSON "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 28 May. 2022.

MLA7

Research, SSA, and JOHN WILSON . "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. 28 May. 2022. < 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 >.

Chicago

Research, SSA and 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 May 28, 2022. 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