{"id":30793,"date":"2022-05-11T15:43:06","date_gmt":"2022-05-11T15:43:06","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation"},"modified":"2022-05-11T15:52:17","modified_gmt":"2022-05-11T15:52:17","slug":"banks-speak-out-on-new-regulation","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation","title":{"rendered":"Banks speak out on new regulation"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>The banking sector says it is yet to study the Assignment of Retirement Benefits for Mortgages and Loans regulations before they can start giving out mortgages to eligible members of saving schemes.<\/p>\n

Most banks Daily Monitor spoke to yesterday said they need to study the new regulations before they can embark on lending to members.<\/p>\n

\u201cWe have just received the regulations and haven\u2019t studied them to know what is expected of us. But the borrower should have the capacity for the contract cash flows to support the repayment,\u201d a source within Housing Finance Bank that preferred anonymity told this newspaper.<\/p>\n

However, Mr Micheal Mugabi, the bank\u2019s managing director, described it as an exciting development because it is allowing the public leverage on their savings to meet the housing and shelter requirements.<\/p>\n

He said previously, many individuals were left out because they lacked collateral to support their eligibility for mortgages.<\/p>\n

\u201cOn average, a decent home costs between Shs50m and Shs150m. A mortgage of Shs30m, is a good boost for a saver because this will be the down payment allowing him to access up to Shs150m,\u201d he said.<\/p>\n

Ms Judy Rugasira, the managing director of Knight Frank, a property management firm, said previously, a person getting a mortgage had to deposit a sum of between 15 percent and 30 percent while the bank paid the remaining 70 percent to buy land or construct a house.<\/p>\n

\u201cIf it is for buying land, that means the bank will top up 70 percent on price of the land and if it is to complete the building, the bank will top up 70 percent of the amount,\u201d she said.<\/p>\n

Ms Rugasira added that the home ownership loans countrywide stand between 10,000 and 15,000 and are steadily growing.<\/p>\n

Ms Annet Nakawunde, the managing director of Finance Trust Bank, said they need to come up with a product after they have understood the new regulations.<\/p>\n

Mr Andrew Kabeera, the managing director of Post Bank, described the new rules as a good development but declined to comment further, saying the bank will come up with a formal position after they have studied them.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. The banking sector says it is yet to study the Assignment of Retirement Benefits for Mortgages and Loans regulations before they can start giving out mortgages to eligible members of saving schemes. Most banks Daily Monitor spoke to yesterday said they need to study the new regulations before they can embark on […]<\/p>\n","protected":false},"author":84,"featured_media":30792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[233,240,234],"class_list":["post-30793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nBanks speak out on new regulation - Uganda<\/title>\n<meta name=\"description\" content=\"The banking sector says it is yet to study the Assignment of Retirement Benefits for Mortgages and Loans regulations bef ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks speak out on new regulation\" \/>\n<meta property=\"og:description\" content=\"The banking sector says it is yet to study the Assignment of Retirement Benefits for Mortgages and Loans regulations bef ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-11T15:43:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-11T15:52:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Banks speak out on new regulation\",\"datePublished\":\"2022-05-11T15:43:06+00:00\",\"dateModified\":\"2022-05-11T15:52:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation\"},\"wordCount\":371,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation\",\"name\":\"Banks speak out on new regulation - Uganda\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg\",\"datePublished\":\"2022-05-11T15:43:06+00:00\",\"dateModified\":\"2022-05-11T15:52:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The banking sector says it is yet to study the Assignment of Retirement Benefits for Mortgages and Loans regulations bef ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Banks speak out on new regulation\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/uganda\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Banks speak out on new regulation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#website\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/\",\"name\":\"Uganda\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/uganda\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Banks speak out on new regulation - Uganda","description":"The banking sector says it is yet to study the Assignment of Retirement Benefits for Mortgages and Loans regulations bef ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation","og_locale":"en_US","og_type":"article","og_title":"Banks speak out on new regulation","og_description":"The banking sector says it is yet to study the Assignment of Retirement Benefits for Mortgages and Loans regulations bef ...","og_url":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation","og_site_name":"Uganda","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-05-11T15:43:06+00:00","article_modified_time":"2022-05-11T15:52:17+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Banks speak out on new regulation","datePublished":"2022-05-11T15:43:06+00:00","dateModified":"2022-05-11T15:52:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation"},"wordCount":371,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg","keywords":["Africa Press","Africa Press-Uganda","uganda"],"articleSection":["all news","economy","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation","url":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation","name":"Banks speak out on new regulation - Uganda","isPartOf":{"@id":"https:\/\/www.africa-press.net\/uganda\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg","datePublished":"2022-05-11T15:43:06+00:00","dateModified":"2022-05-11T15:52:17+00:00","author":{"@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The banking sector says it is yet to study the Assignment of Retirement Benefits for Mortgages and Loans regulations bef ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#primaryimage","url":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg","contentUrl":"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2022\/05\/postQueueImg_8-627bdb9c916b4.jpg","width":1200,"height":800,"caption":"Banks speak out on new regulation"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/uganda\/all-news\/banks-speak-out-on-new-regulation#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/uganda\/"},{"@type":"ListItem","position":2,"name":"Banks speak out on new regulation"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/uganda\/#website","url":"https:\/\/www.africa-press.net\/uganda\/","name":"Uganda","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/uganda\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts\/30793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/comments?post=30793"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/posts\/30793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/media\/30792"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/media?parent=30793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/categories?post=30793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/uganda\/wp-json\/wp\/v2\/tags?post=30793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}