KAMPALA – The Banking Fraternity under the umbrella Uganda Bankers’ Association – UBA has dismissed a video circulating on social media, calling upon the banking public to withdraw their deposits from Centenary Bank.
The video making rounds on social media allege missing funds from Centenary Bank customers’ accounts.
“We would like to categorically state that this is a false old story that is unfounded, malicious and intended to cause unnecessary panic among our customers and the public,” said the bank.
The bank says the video “has been attached to another malicious and false picture against our branch and agents in Nyendo, Masaka.”
UBA regretted the said statements saying that they 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 would be catastrophic impact that any such calls could impose on depositors and the economy at large,” the Association said in a Saturday statement.
The Association has encouraged 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.
They assured 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,” added the Association.
The bank said, “We wish to reassure our customers and the general public that our Bank is solid, responsive and cares for our customers. We treat our customers’ accounts with utmost integrity and in line with the industry regulations.”
They also asked their customers in Uganda and in the Diaspora to always reach out to them in case of any inquiries through their official communication channels for further support.