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Bank of Uganda Distances Itself from “Crane Bank” Whatsapp Messages

BoU ReAssures Its Crane Bank Customers to Continue Banking Normally

Bank of Uganda has come out to reassure Crane Bank customers by distancing themselves from messages that have been circulating on social media, imploring customers to withdraw their money from the bank within next week.
“Messages circulating on Whatsapp instructing depositors to withdraw their money from Crane Bank were not issued by BoU,” reads a statement signed by Christine Alupo, Bank of Uganda’s Director of Communications.

“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 statement read.

BoU also commented on Crane Bank’s on-going process to acquire a strategic equity investor assuring customers that it is normal procedure that shouldn’t cause panic.

“The 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. The BoU does not comment on any negotiations to sell shares in a bank while these negotiations are on-going,” Alupo said.

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