Uganda's central bank said on Friday it would appoint new members to the board and management of Libyan-owned Tropical Bank to ensure it is not under the sway of the north African nation's government.
The central bank, or Bank of Uganda (BoU), said the measure would be in compliance with U.N. sanctions and would ensure Tropical Bank could continue to operate as a commercial bank.
"Bank of Uganda has taken a series of measures which are designed to ensure the management of Tropical Bank is fully independent of the Libyan government ... and that it transacts no business with the Libyan government," said Central Bank Governor Emmanuel Tumusiime-Mutebile.
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