Regulatory Alerts2025-01-01
Financial Institutions (Corporate Governance) Amendment Regulations 2025
The Bank of Uganda issued the Financial Institutions (Corporate Governance) Amendment Regulations 2025 to modify key board oversight and directorship rules for regulated financial institutions. The amendment introduces a new provision allowing institutions to request Central Bank approval for reappointing independent non-executive directors who have served over nine years, granting a one-year extension to secure a suitably skilled board chairperson. It also updates the board's approval mandates for credit facilities exceeding management sanction limits and those extended to shareholders, directors, executive management, and related parties.
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