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Finance Trust Bank company logo
FINANCIAL | Lending / Microfinance
financetrust.co.ug

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Founded Year

1984

Stage

Unattributed VC | Alive

About Finance Trust Bank

Finance Trust Bank is a Ugandan microfinance bank which gives women access to financial services. Finance Trust Bank offers a range of financial solutions, including loans, deposit accounts, money transfer services, utility bills collection and insurance services to SMEs, institutions and individuals.

Finance Trust Bank Headquarter Location

P.O. Box 6972

Kampala,

Uganda

+256 414 341275

Latest Finance Trust Bank News

Finance Trust Bank staff asked to return portion of salaries received during lockdown

Jun 20, 2020

Finance Trust Bank staff asked to return portion of salaries received during lockdown Comments Off on Finance Trust Bank staff asked to return portion of salaries received during lockdown 0 Shares Finance Trust Bank has asked its staff to refund a portion of their salaries received during the Covid-19 lockdown when government restrictions prevented them from getting to work. According to a memo sent to all staff on June 12 by Annet Nakawunde Mulindwa, the bank’s chief executive, staff who were not able to get to work because of the government restrictions were asked to convert the unworked days into annual paid leave. However, the bank only allows for 24 days of paid leave in a year, yet government lockdown lasted for a combined 49 days, including weekends. Now the bank wants staff to refund the salary earned during the time they were on lock down, that exceeds the 24 working days. “Reference is made to the Government of Uganda directive following the outbreak of COCID 19 to lockdown the economy in a series of weeks i.e. 14 days, 21days and 14 days. The lockdown prompted suspension of public and private transport which prevented the majority of you from accessing the offices. The Bank therefore granted Annual leave to all staff who could not be able to make it to the office, given the limited means,” Mulindwa told staff in the memo. “As you are all aware, staff are entitled to 24 days of annual leave in a year and those days were to be utilized for the period of 2020. However, we noted that the extended lockdown fully utilized the entitlement of the 24 days, allowing extra days for some staff. Given that background, the Bank considered the days over and above the 24 days entitled in 2020 as unpaid leave. Since the Bank already paid salary for those days, the affected staff will be allowed to pay back the funds for those days within a period of six months i.e. six installments,” she further says. “For those whose deductions are already above the statutory deductions, they will be given a waiver to pay in an agreed extended period beyond six months. The HR department will share with all the concerned staff the deductions to be made with effect from June 2020. Please understand that this measure is being taken to maintain you at work and we expect your full cooperation,” the memo adds. Percy Lubega, the bank’s Head of Marketing and Communications, says the decision is to be able to allow the bank to remain afloat given the shocks it has suffered due to Covid-19. Post navigation

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