THE UMRA BOARD
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.
Composition of the Board.
- The members of the Board are—
- a representative of the Bank of Uganda;
- a representative of the ministry responsible for finance;
- a representative of the ministry responsible for cooperatives;
- three persons with experience in microfinance; and
- the Executive Director of the Authority, who shall be an ex officio
- The Executive Director shall be the Secretary to the Board.
- The members of the Board shall be persons of high moral character and proven integrity and shall be fit and proper persons in accordance with the criteria specified in Schedule
- A person shall not be eligible for appointment if that person is an employee or member of a company, firm or institution where that employment or membership may lead to a conflict of interest.
- The Minister shall appoint a Chairperson from among the members of the Board.