Regulatory Alerts2022-06-01
Small Business Recovery Fund Credit Reporting Guidelines
The Bank of Uganda directs all Participating Financial Institutions to report Small Business Recovery Fund loans to Credit Reference Bureaus and amends the Data Standardisation Manual by introducing a dedicated product code for these facilities. This mandate requires Credit Reference Bureaus and financial institutions to update their respective reporting systems, thereby streamlining data submission and mitigating multiple borrowing risks. The updated framework enables accurate identification of prior fund access for applicants, ensuring consistent and standardized credit data across the Ugandan financial sector.
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