Regulatory Alerts2024-01-01
Micro Finance Deposit-Taking Institutions (Revision of Minimum Capital Requirements) Instrument 2023
The Ugandan Minister of Finance, Planning and Economic Development has issued a statutory instrument revising the minimum capital requirements for Micro Finance Deposit-Taking Institutions. The regulation mandates that licensed companies maintain a minimum paid-up capital of two hundred fifty thousand currency points, initially invested in Central Bank-approved liquid assets. These capital funds must remain unimpaired by losses at all times and cannot fall below the specified threshold to sustain or obtain a licence.
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