Coronavirus: Bank of Uganda reduces working hours for banks

The Bank of Uganda has reduced the working hours of the Commercial Banks, Credit institutions and Microfinance Deposit-taking Institutions.

In a new circular issued on March 27, these banking institutions have been ordered to open at 9:00 am and close at 3:00 pm, as a measure of minimising the spread of the coronavirus (COVI-19).

Some commercial banks in Uganda have been operating from 8:00 am to 7:00 pm and also opening on weekends. All commercial banks have been ordered to remain closed on Saturdays and Sundays.

The Central Bank is trying much as it can to help supervised financial institutions minimise the spread of COVID-19 between bank staff and clients.

The Executive Director Supervision at Bank of Uganda, Dr Tumubweinee Twinemanzi said: "On account of the operating challenges posed by the COVID-19 crisis, Bank of Uganda hereby grants a "no objection" to all regulated Financial Institutions for amendment of their branch operating hours to 9:00 am to 3:00 pm on weekdays and for branch closure on Saturdays and Sundays."