PUBLIC NOTICE Uganda Microfinance Regulatory Authority (UMRA) was established by section 6 of the Tier 4 Microfinance Institutions and Money Lenders Act, 2016 to license, regulate and supervise Tier 4 Microfinance Institutions and Money Lenders in Uganda. According to section 36 of the Act, a SACCO shall not conduct the business of financial services unless it is licensed under this
We are pleased to inform the public that the Tier 4 Microfinance Institutions and Money Lenders (SACCO) Regulations,2020 have been gazetted and made available on the website. The SACCO regulations implement the Tier 4 Microfinance Institutions and Money Lenders Act,2016 which mandates Uganda Microfinance Regulatory Authority (UMRA) to regulate, license, and supervise SACCOs, Money Lenders, and Non-Deposit Taking Microfinance Institutions.
Non-Deposit Taking Microfinance Institution means a company or a non-government organization licensed to carry out money lending business under section 62 of the Tier 4 Microfinance Institutions and Moneylenders Act, 2016; Although there is a thin line between Money Lenders and Non Deposit Taking Microfinance Institutions in terms of licensing requirements and regulations, the two institutions can be differentiated
The Tier 4 Microfinance Institutions and Moneylenders Act, 2016 provides a framework for licensing, regulating and supervision of all Tier 4 Microfinance Institutions and Moneylenders in Uganda, and the establishment and operationalization of Uganda Microfinance Regulatory Authority (UMRA). UMRA is mandated to license, regulate and supervise savings and credit cooperatives (SACCOs), credit-only microfinance Institutions, private businesses and individuals engaged in
REMARKS BY EXECUTIVE DIRECTOR , UGANDA MICROFINANCE REGULATORY AUTHORITY AT THE INFORMATION SHARING WORKSHOP BETWEEN UMRA LICENSEES AND CRAFT SILICON LIMITED HELD AT HOTEL AFRICANA 24/06/19 The Head of Craft Silicon Limited CEOs/MDs for UMRA Licensed Institutions Ladies and Gentlemen Good morning First I would like to thank you all for creating time out of your busy schedules to attend
Edith Namugga Tusuubira is the new substantive Executive Director of the Uganda Microfinance Regulatory Authority. Ms. Edith Tusuubira replaces Elly Avu Biliku, who has been acting as the Executive Director. Mr Biliku was seconded from the Ministry of Finance Planning and Economic Development to kick start the establishment of the Authority in 2017. Mr. Biliku has now been transferred to