Regulatory Alerts2005-01-01
Financial Institutions (Licensing) Regulations, 2005
The Central Bank of Uganda has issued these regulations to establish comprehensive licensing criteria, procedures, and ongoing compliance standards for all financial institutions operating in the country. The rules mandate minimum paid-up capital of four billion Uganda shillings for banks and one billion for non-banks, alongside strict fit-and-proper assessments for directors, officers, and substantial shareholders. Applicants must submit detailed documentation and a three-year business plan, after which the Central Bank conducts investigations within six months to grant, conditionally approve, or refuse licences based on financial viability and risk management.
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