Region

Jurisdiction

Regulator

2022-06-01

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.

Uganda

Bank of Uganda

BANK OF UGANDA

OFFICE OF THE EXECUTIVE DIRECTOR SUPERVISION

37-45 KAMPALA ROAD, P.O. BOX 7120, KAMPALA

DIRECT LINE: 256-414- 230051 GENERAL LINE: 256-414- 258441 Ext 2403 FAX LINE: 256-414- 258515 TELEX: 256-414-61059

CABLES: UGABANK Email: info@bou.or.ug Website: www.bou.or.ug

EDS.306.2

27 December 2021

Circular to all Chief Executive Officers of Credit Reference Bureaus, Commercial Banks, Credit Institutions and Microfinance Deposit-taking Institutions

Small Business Recovery Fund (SBRF) – Credit Reporting Guidelines

Reference is made to Bank of Uganda’s circular Ref. EDS.306.2 dated December 9, 2021 issuing operational guidelines for the Small Business Recovery Fund (SBRF). As the fund administrator, Bank of Uganda has noted the need to streamline the reporting of SBRF loans to the Credit Reference Bureaus to address multiple borrowings.

In this regard, all Participating Financial Institutions (PFI's) are required to report facilities advanced under the SBRF to Credit Reference Bureaus. Accordingly, this is to amend appendix 1.5 of the Data Standardisation Manual (DSM) to include Product type - Small Business Recovery Fund with Product Code 15. This will enable PFI's identify applicant's that had prior access to the fund.

This circular, is therefore intended to direct Credit Reference Bureaus and Participating Financial Institutions to implement the above changes in your respective credit bureau reporting system.

Yours faithfully,

[Signature]

Hannington Wasswa Ag. Executive Director Supervision

Mission: To Foster Price Stability and a Sound Financial System Vision: To be a Centre of Excellence in Upholding Macroeconomic Stability