Standard Bank of SA Ltd Representation Standard Bank of South Africa Ltd has a subsidiary in Uganda, known as Stanbic Bank Uganda Limited. There are two legal entities in Uganda, Stanbic Bank Uganda Limited and Stanbic Bank International Uganda Limited. The Standard Bank has the capacity to confirm Letters of Credit issued by prime Banks in Uganda. The Bank of Uganda administers exchange control on behalf of the Minister of Finance. Private sector importers may purchase foreign exchange in the inter-bank market or in foreign exchange burcaus to pay for imports without restriction.
Foreign exchange is based on a market determined exchange rate.
Trade General Import control is administered by the Minister of Commerce and Trade. Importers must obtain a renewable certificate, valid for six months. This allows importers to import a wide range of goods which do not appear on the negative list. Such non-goods specific certificates replace import licences. Import duties are levied on an Ad Valorem basis.