Recent News

Contact us

  • Rwenzori Towers
    Block B, Ground Floor
    Plot 6 Nakasero Road
  • Call: +256 417 799 700
  • Fax: +256 414 230 163
  • P.O Box 11545
    Kampala- Uganda
  • Mon to Fri: 8 am – 5 pm
    Weekends: CLOSED
  1. All Tier 4 Microfinance Institutions and Money Lenders are required to have a valid license. UMRA license is valid for one calendar year (Up to 31st of December of the year it is issued). All SACCOs, Non-deposit taking Microfinance Institutions and Money Lenders should apply for license renewal at least 90days before expiry of the  existing license thus between the month of October to December.
  2. Display of information :
      • a valid license
      • a list of products offered
      • Rights and responsibilities of members
  3. SACCOs shall maintain minimum equity (Minimum core capital of 10% of total assets).
  4. SACCOs shall maintain adequate liquidity (Minimum liquid assets of 15% of Total savings and short term liabilities)
  5. SACCOs shall Limit investment in non-earning assets (Maximum non- earning assets of 10% of total assets, unless approved). Donated and foreclosed assets are excluded
  6. SACCOs shall Limit external borrowing (Maximum external borrowing of 25% of Total Assets unless approved)
  7. SACCOs Limit financial investment in non-government securities (Maximum financial investment in non-government securities of 40% of core capital or 5% of total deposit liabilities)
  8. SACCOs shall Have a register of unclaimed balances/dormant accounts.
  9. SACCOs shall maintain reserve at least10% of annual surplus
  10. All Non-deposit taking microfinance institutions and SACCOs do submit risk
    classification of assets and provisioning on a quarterly basis.
  11. Licensed Money lenders have been prohibited to use compound interest
  12. Licenses Money Lenders are discouraged from using sales agreement and must offer a copy of loan agreement to the borrower stipulating all the interests in the transaction.