Uganda Bankers Association (UBA) has called on Ugandans to disregard a viral video alleging missing funds on customer accounts in Centenary Bank.
In a statement, UBA, advises customers to contact their banks through the proper communication channels if they want the right information.
“We encourage customers to always contact their respective financial institutions through their official communication channels for any information and support they may require in relation to their bank accounts,” UBA says in the statement, adding:
“Customers also have recourse to the regulator, Bank of Uganda in case financial institutions do not resolve complaints to their satisfaction.”
The Banking Fraternity under the UBA umbrella has noted with concern a video circulating on the social media, calling upon the banking public to withdraw their deposits from one of the regulated member financial institutions Centenary Bank or indeed any other UBA member.
The said statements are unfortunate, unwarranted and retrogressive for an economy striving to bring the majority of the population to the money economy through financial inclusion.
We urge the banking public and wider population to disregard and ignore these alarmist calls in the video and carefully weigh the catastrophic impact that any such calls could impose on depositors and the economy at large.
We encourage customers to always contact their respective financial institutions through their official communication channels for any information and support they may require in relation to their bank accounts.
Customers also have recourse to the regulator, Bank of Uganda in case financial institutions do not resolve complaints to their satisfaction.
The banking industry wishes to assure the public that the regulated financial institutions are mandated not only to play the role of safe custody of depositor funds but to also play the intermediary role of facilitating savings, payments and investment through provision of credit that in turn fuels the economy as its life blood.
It is therefore the responsibility of every one of us to safeguard this public good and rededicate our efforts towards developing our economy.