Crane Bank fall turns spotlight on Uganda regulator
Uganda’s central bank took over management of troubled businessman Sudhir Ruparrellia's, Crane Bank due to a financial crisis. PHOTO | MORGAN MBABAZI |
The collapse of Crane Bank late last year took Uganda and its financial system by surprise.
Now latest efforts by Bank of Uganda to recover more than $100 million dollars from proprietor businessman Sudhir Ruparrelia have unveiled a myriad of questions about the Central Bank itself and a number of international audit firms that for years gave the fallen lender a clean bill of health.
