Bank of Uganda Announces Liquidation of Mercantile Credit Bank.
In a decisive move,the Bank of Uganda (BoU) has placed Mercantile Credit Bank Limited under liquidation, effectively revoking its license and ordering the wind-up of its operations. This decision, enacted under Sections 99 and 17 (b) & (f) of the Financial Institutions Act 2004 (as amended), stems from critical issues within the bank that pose…