The Bank of Uganda (BoU) is the Central Bank of the Republic of Uganda. It was opened on August 15, 1966. It is 100% owned by the Government of Uganda but it is not a government Department. Bank of Uganda conducts all its activities in close association with the Ministry of Finance, Planning and Economic Development(MoFPED). Bank of Uganda is responsible for the formulation and implementation of monetary policy as well as regulating & supervising financial institutions.
The Board of Directors is responsible for overall management of the Bank. It is appointed by the President of the Republic of Uganda and is composed of:-
1) The Governor and Chairman of the Board,
2) The Deputy Governor and Deputy Chairman of the Board,
3) Not more than 5 other members.