{UAH} But Where Is The Jailed Culprit In Bank Closures?

The developing story about the closure of Gold Trust Bank raises a few questions.

The regulator, Bank of Uganda, is exercising it's mandate in maintaining and regulating the banking sector. But the crimes committed and the actual criminals being charged here are still unclear.

If someone has stolen depositors money, we might want to know who, how, when and the amounts involved.

The industry has been awash with closures previously, notably ICB in the late 90's which saw the director Patrick Kato tried and sent to jail.

All the Kato family assets were seized in drastic measures to attempt to recoup depositors funds.

Action for which Mzee Thomas Kato, the chairman, never recovered financially... nor physically. He died a few years later.

But the exercise was one where there were clearly defined malpractices being investigated, and a suspect being prosecuted.

Since then, we are yet to see a culprit in jail after trial in the bank closures.

Happy Eid day...monday or tuesday...

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