By Pascal Kwesiga
August 15, 1966 is a signifi cant date in the annals of Ugandas banking industry. It is the day the Central Bank issued the fi rst Ugandan shilling, with sh100 as the largest denomination. Today, the largest denomination is sh50,000.
The day also marked the commencement of the operations of Bank of Uganda (BOU), having been set up by an Act of Parliament on May 24, 1966. The Act received presidential assent on May 28, 1966, four days after its passing by the House.
Although it was apparent even before independence in 1962 that Uganda ought to have an independent Central Bank, for some reasons, BOU was set up four years later. Before 1966, Uganda was a member…
Read the full article at: http://www.newvision.co.ug/new_vision/news/1432682/bank-uganda-anniversary-supplement
