Frequently asked questions on our role

Some frequently asked questions on our role

1. Can an individual hold an account in Bank of Uganda?
2. Can one buy foreign exchange from the Bank of Uganda?
3. Can members of the public enter Bank of Uganda?
4. Does Bank of Uganda buy gold?
5. Who owns Bank of Uganda?

6. What do the symbols on the Bank of Uganda logo represent? 

 

1. Can an individual hold an account in Bank of Uganda?

Answer
No. Bank of Uganda is not a  commercial bank and it does not open accounts for individuals. However, we are banker to government and banker to commercial banks. So, government and commercial banks hold accounts with us.

2. Can one buy foreign exchange from the Bank of Uganda?

Answer
No. The foreign exchange market was liberalised. Anyone who seeks to buy or sell foreign exchange can do so through commercial banks or licenced forex bureaux.

3. Can members of the public enter Bank of Uganda?

Answer
Yes. Members of the public can enter the Bank of Uganda through the visitors entrance and they can access our banking hall for services.

4. Does Bank of Uganda buy gold?

Answer
No. Bank of Uganda used to have a gold desk where members of the public could bring gold for sale but this service is no longer available at the Bank.

5.Who owns Bank of Uganda?

Answer
Bank of Uganda is 100% government owned.

6. What do the symbols on the Bank of Uganda logo represent?

Answer
Interpretation of the Symbols on Bank of Uganda Logo