Government plans to come up with a law which will empower the state to be involved in the deal to borrow or lend money. Speaking at the opening of the new parliament, president Museveni said it is necessary for the state to take interest in the signing of an agreement between the person intending to borrow money from the bank and the lending entity.

According to president Museveni, some lending entities entice borrowers to borrow money with hidden interests of grabbing their properties. He cited an incident when he intervened when a member of parliament borrowed money but delayed to pay back shs200m and the commercial bank wanted to grab his house worth one billion shillings.
Museveni says it is unfair to take away a person’s property with higher value than what he borrowed for failure to pay back.

Meanwhile, realizing the president was not talking about the jailed former FDC presidential candidate Dr. Kizza Besigye’s release, some MPs walked out on Museveni. MPs mainly on the opposition side displayed placards as the president addressed the MPs before MPs Allan Sewanyana (Makindye west) and Mubarak Munyagwa (Kawempe south) among others walked away in protest.

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