Regulatory Alerts2006-01-01
Foreign Exchange (Forex Bureaus and Money Remittance) Regulations, 2006
The Bank of Uganda has issued these regulations to establish comprehensive licensing and supervisory frameworks for forex bureaus and money remittance businesses. Licensees must satisfy specific capital, operational, and fit-and-proper criteria while adhering to strict record-keeping, reporting, and anti-money laundering obligations. The central bank retains inspection and directive powers to enforce compliance, with clear provisions for licence issuance, renewal, suspension, revocation, and associated penalties.
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