Regulatory Alerts2023-01-01
Financial Institutions (Agent Banking) (Amendment) Regulations 2023
The Central Bank of Uganda issued the Financial Institutions (Agent Banking) (Amendment) Regulations 2023 to update licensing requirements for agent banking operations. The amendment modifies Regulation 7 by mandating that applicants maintain a licensed bank or mobile money account for six consecutive months prior to application, reduces a specified numerical threshold from twelve to six, and repeals designated subregulations. These adjustments streamline compliance for deposit-taking institutions and e-money issuers, ensuring consistent operational standards across authorized agent banking networks.
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