Regulatory Alerts2016-01-01
Tier 4 Microfinance Institutions and Money Lenders Act 2016
Issued by the Parliament of Uganda, this Act establishes the autonomous Uganda Microfinance Regulatory Authority to license, supervise, and regulate tier 4 microfinance institutions and money lenders. It mandates standardized licensing, prudential standards, and operational controls for savings and credit cooperatives, non-deposit taking microfinance institutions, self-help groups, and commodity-based entities. The legislation further establishes stabilization and savings protection funds, integrates Islamic microfinance rules, and repeals the prior Money Lenders Act to guarantee sector stability and consumer protection.
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