Regulatory Alerts2022-06-01
Bank of Uganda COVID-19 Credit Relief and Loan Restructuring Measures for Education and Hospitality Sectors
The Bank of Uganda directs supervised financial institutions to grant targeted credit relief and loan restructuring to education and hospitality sector borrowers for exposures issued before April 2020. Effective October 1, 2021, and valid for twelve months, the measures permit one restructuring per borrower through moratoriums or tenor extensions while halting interest accrual and waiving late payment penalties. The directive coincides with the September 2021 expiry of the broader pandemic relief program, requiring institutions to maintain liquidity assistance, submit capital adequacy reports for dividend distributions, and enhance stress testing to manage rising non-performing loans.
Share