Bank of Uganda of Uganda has distanced itself from circulating rumours that Crane Bank depositors were instructed to withdraw all their money.
A report claimed that Crane Bank principal shareholder and property mogul Sudhir Ruparelia had sent a letter to 500 top debtors calling in the loans.
It said the debtors were given one month within which to resolve their position with the bank and that some depositors had started “pulling their money out the financial institution that has been involved in acquisition talks with the Mara Group”.
“Messages circulating on Whatsapp instructing depositors to withdraw their money from Crane Bank were not issued by BoU,” the central bank said in a statement.
“It has been brought to our attention that messages have been circulating on Whatsapp instructing depositors to withdraw their money from Crane Bank within the next week. We wish to categorically state that these messages were not issued by Bank of Uganda.”
The bank said shareholders of commercial banks have the option of selling shares to new investors as they deem appropriate.
However, any new investor in a commercial bank must satisfy the regulator that they are fit and proper.
“BoU does not comment on any negotiations to sell shares in a bank while these negotiations are ongoing.”
BoU monitors closely all commercial banks in Uganda and any actions which it takes are motivated primarily by the objective of protecting the best interests of banks’ depositors, the statement read.