Centenary Bank halts controversial insurance fee for Agents
Centenary Bank has halted the 10 out of 100 charges on the commission’s agents that it had imposed as mandatory fees for insurance. This comes after several banking agents complained that the deduction from their commission in November was unfair and done without their approval. Speaking to NTV, Centenary Bank’s digital communication manager Michael Bulyerali said that in September, the bank issued a 30-day notice, as required by the Bank of Uganda, about the new deduction, which is meant to cover losses such as robberies, which have been increasing. Sudhir Byaruhanga reports.
