LogoRegulatory Alerts
2022-06-01

Bank of Uganda Credit Relief Implementation for Education and Hospitality Sectors

Bank of Uganda (BOU) directed supervised financial institutions to accommodate a seven-officer inspection team during March–May 2022. The officers will conduct branch-level assessments to verify the effective implementation of targeted Credit Relief Measures and the Small Business Recovery Fund for the education and hospitality sectors. This verification process ensures continued credit risk mitigation and sector recovery ahead of the programs' September 2022 expiry.

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Bank of Uganda

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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

22nd March 2022

All Chief Executive Officers of Commercial Banks, Credit Institutions and Microfinance Deposit-taking Institutions

Need to Ascertain Effective Implementation of Credit Relief Measures for the Education Services and Hospitality Sectors

Reference is made BOU Circular EDS.306.2 dated 1st November 2021, wherein Bank of Uganda (BOU) effectively extended targeted Credit Relief Measures for the Education Services and Hospitality Sectors in order to mitigate potential credit risk and support their recovery. This will expire on 30th September 2022.

The Government of Uganda (GOU), in partnership with the supervised financial institutions (SFIs), established the Covid-19 Small Business Recovery Fund (SBRF) which is administered by BOU on behalf of GOU. In order to enhance public awareness and utilization of the targeted CRM and SBRF programs, BOU embarked on sensitizing the public about the programs, through both print media and radio talk-shows across the country.

A team of seven (7) BOU officers named below shall engage with your staff at different branches during the period March – May 2022 aimed at ascertaining the effective implementation of the said programs:

  1. Mr. Robert Mbabazize
  2. Mr. Ibrahim Serwanja
  3. Mr. Patrick Okettayot
  4. Mrs. Sarah Mubuuke
  5. Ms. Prossy Naamala
  6. Ms. Yvonne Byanjeru
  7. Ms. Nisa Ankunda

Please accord them the necessary assistance to enable them to accomplish the assigned task.

Yours faithfully,

[Signature]

Tumubweinee Twinemanzi (Dr.) Executive Director Supervision

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

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