Regulatory Alerts2005-01-01
Financial Institutions (Corporate Governance) Regulations 2005
The Central Bank of Uganda issued these regulations to mandate comprehensive corporate governance standards for all domestic financial institutions. The framework requires boards to maintain strict independence, establish specialized audit and risk committees, and enforce clear accountability between directors and senior management. Non-compliant institutions face targeted administrative sanctions, including dividend restrictions and branch suspension, while the Central Bank retains authority to remove directors or executives for governance failures.
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