Regulatory Alerts2022-01-01
Financial Institutions (Credit Reference Bureau) Regulations 2022
The Bank of Uganda has issued the Financial Institutions (Credit Reference Bureau) Regulations 2022 to establish a comprehensive licensing and supervisory framework for credit reference bureaus and data providers. The regulations mandate minimum capital thresholds, strict data collection and security standards, and clear protocols for consent, privacy, and cross-border information sharing. By standardizing credit reporting, enforcing anti-competitive practices, and defining data subject rights, the framework aims to enhance consumer credit access, ensure market integrity, and strengthen overall financial system stability.
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