Uganda's President Idi Amin criticised Britain for "not honouring its word" when he opened the new Libyan-Arab-Uganda Bank for Foreign Trade and Development in Kampala on Monday (20 November).
GV EXT Bank
CU Sign Libyan-Arab-Uganda Bank for Trade and Development
SV Gen. Amin's car arrives, Amin enters bank (2 shots)
SV Crowd inside bank
SV Amin steps forward to ribbon and cuts it
SV People watch
SV Amin shakes hands with employees
SV Staff watching
SV Amin signs book
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Background: Uganda's President Idi Amin criticised Britain for "not honouring its word" when he opened the new Libyan-Arab-Uganda Bank for Foreign Trade and Development in Kampala on Monday (20 November). President Amin said it was "a well known fact that most of our banks in Uganda have in the past been controlled by imperialists." He said, "Being an instrument of imperialism they were only keen to serve the activities of imperialism." President Amin added that the Libyan leader, Colonel Muammar Gaddafi, always honoured his word, unlike Britain which had promised a ten million sterling loan and then withdrawn it as a means of putting pressure on Uganda. He said "it was very shameful for a big country to be a liar, not to honour its words."
The new bank, which has a capital of 60 million shillings (about 3.6 million sterling), is 49 per cent owned by the Ugandan Government and 51 per cent by the Libyan Arab Bank in Tripoli. Its main aim is to help Ugandans buy businesses left by expelled Asians and to undertake normal commercial banking, crop financing and development financing. Increased Libyan influence has been evident in uganda since military aid was offered by Libya during the Uganda-Tanzania crisis in September.