15th 0ct, 2016 – Bank of Uganda has refuted claims that they have instructed Crane Bank customers to withdraw their deposits before next week. “It has been brought to our attention that messages have been circulating on Whatsapp instructing depositors to withdraw their money from Crane Bank within the next week. We wish to categorically state that these messages were not issued by Bank of Uganda.” The central bank said in statement released on their Facebook official page.
The last few weeks Crane Bank has been targeted by false rumors indicating that the bank owners, the Ruparelia Group are planning to sell the bank to a foreign investor. Today has seen another rumor spreading like wildfire.
The rumor which was shared on social media platforms instructed depositors to withdraw their money from Crane Bank. The propagandist who circulated the messages claimed that there were tipped off by an insider in Bank of Uganda.
However the central bank has distanced itself from the claim saying the harmful messages where not issued by the financial institutions regulator. “Messages circulating on Whatsapp instructing depositors to withdraw their money from Crane Bank were not issued by BoU. It has been brought to our attention that messages have been circulating on Whatsapp instructing depositors to withdraw their money from Crane Bank within the next week. We wish to categorically state that these messages were not issued by Bank of Uganda.”
A source at Crane Bank said this harmful propaganda is baseless and malicious intended to misguide and cause panic among its customers. “Our customer’s deposits are safe and there should be cause to worry. We are well capitalized and there is no reason why we should wuit. We have served Uganda for 21 years why now.” The source said asking us to wait for an official c Crane Bank, founded in the year 1995, now in its 21st year of operations has grown to become one of Uganda’s largest locally owned Ugandan commercial banks; the 4th largest in terms of assets and 5th in terms of deposits.
Crane Bank has provided financial services to corporate and retail sectors in Uganda for a number of years, largely focusing on Micro, Small & Medium enterprises (SMEs). The Bank aims not only to provide the best services at the most economical terms to its customers, but also to encourage the culture of banking within the unbanked population.
