Organization and Governance
The Board of Directors of the Bank of Uganda is the supreme policy making body of the Bank. It is chaired by the Governor and in his/her absence by the Deputy Governor. The duties and powers of the Board are provided for under the Bank of Uganda Act. This Act bestows upon the Board the responsibility for the general management of the affairs of the Bank. The Board formulates Bank policies and ensures that anything required to be done by the Bank under the statute as well as anything else that is within or incidental to the functioning of the Bank is carried out.
The President of Uganda appoints both the Governor of the Bank and the Deputy Governor, on the advice of the Cabinet for five-year renewable terms. Other members of the Board (not less than four, and not more than six, are appointed by the Minister of Finance for three-year renewable terms. The Secretary to the Treasury is an ex-officio member of the Board.
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