The Bank's compliance with principles of good corporate governance is reflected through a properly constituted Board of Directors.
1.How Board is appointed
According to Article 161 of the Constitution of the Republic of Uganda, 1995 article 2, "The authority of the Bank of Uganda shall vest in a Board which shall consist of a Governor, a Deputy Governor and not more than five other members."
Aritcle 3 states that "The Governor, the Deputy Governor and all other members of the Board shall:
A. be appointed by the President with the approval of Parliament
B. hold office for a term of five years but shall be eligible for re-appointment