The National Anti-Money Laundering (AML)/Countering Financing of Terrorism (CFT) Strategy provides the approach which Uganda has adopted to tackle ML, TF and PF over the next five years. It also presents Uganda’s priorities and objectives in adhering to international standards and obligations set by theFinancial Action Taskforce (FATF). The strategy aims “to secure the nation […]
This Guidance is issued by the Uganda Microfinance Regulatory Authority (UMRA) pursuant to S. 27 of the Anti-Money Laundering Act, 2013 as amended. The Anti- Money Laundering Act, 2013 (the “AMLA”) identifies any person who conducts the business of lending, inter alia; consumer credit, mortgage credit, factoring with or without recourse and financeof commercial transactions […]
Section 11 of the Tier 4 Microfinance Institutions and Money lenders Act 2016, provides for establishment of the board which is responsible for general direction and supervision of the Authority.
In May 2016, Parliament passed the Tier 4 Microfinance Institutions and Money lenders Act to Regulate the Tier 4 Microfinance Institutions and Money Lenders with the objective of protecting the borrowers against bad lending and unethical practices of the lenders, to build confidence in microfinance business and promote financial inclusion.