By Tom Brian Angurini
The Uganda Bankers’ Association says local commercial banks are complying with Bank of Uganda’s guidelines to keep interest rates low for consumers.
They responded after the central banks Governor Emmanuel Tumusiime Mutebile was releasing the Central Banks Rate (CBR) for February 2020 and said most commercial banks still keep interest rates high despite their guidelines to keep them low.
The public relations officer of Uganda Bankers Association Ms. Patricia Atim says commercial banks have created initiatives in place like agent banking were consumers can access low-interest rates.
She says Uganda Bankers Association is making efforts to make sure that all commercial banks adhere to central bank guidelines to keep interest rates low.