Thursday, March 6, 2008

Banks oppose land bill

Monitor Online "UGANDANS will have a rough time accessing loans from commercial banks if the government’s Land Amendment Bill is passed in its current form, bankers warned yesterday.
The bankers told MPs on Parliament’s Infrastructure, Legal and Parliamentary Affairs committees that are scrutinising the Bill that they will not advance loans to borrowers who present land titles as mortgages.
The law, they said, would not allow banks to evict tenants on land to recoup their money in case the borrowers default."