Only six banks have submitted applications for the ICGU CG awards, is this good for the economy?

Only six banks have submitted applications for the ICGU CG awards, is this good for the economy?

When the Institute is celebrating corporate governance, it is something everyone should be involved in. It is their opportunity to shine. We know that Financial Institutions mainly banks, and insurance companies are one of the most highly regulated entities. If they are regulated entities, when it comes to any award that is awarding compliance, these institutions should be at the fore front.

There is a Financial Institutions Act which provides minimum benchmarks for anyone to run a bank. It also provides for the appointment of the board, and how it should run the business. The Central Bank vets board members who […] Read more

Security brief: The breach of all breaches – the Equifax dilemma

Security brief: The breach of all breaches – the Equifax dilemma

Half the population of America, over 143 million people may have had their Social Security numbers and other data stolen, in the massive data breach at Equifax, the credit bureau. The breach that took place in May 2017 is considered the biggest so far.

www.equifax.com (website is currently not available), is the Uganda’s equivalent of three entities – National Information Registration Authority (NIRA), National Social Security Fund (NSSF) and Credit Reference Bureau (CRB). These entities hold a lot of data about Ugandans. The NIRA contains the NIN which identifies all registered Ugandans by their birth, sex, place of residence, village of […] Read more