RegAlert2022-06-01
Added · Updated
Small Business Recovery Fund Credit Reporting Guidelines
The Bank of Uganda directs all Participating Financial Institutions to report Small Business Recovery Fund loans to Credit Reference Bureaus and amends the Data Standardisation Manual by introducing a dedicated product code for these facilities. This mandate requires Credit Reference Bureaus and financial institutions to update their respective reporting systems, thereby streamlining data submission and mitigating multiple borrowing risks. The updated framework enables accurate identification of prior fund access for applicants, ensuring consistent and standardized credit data across the Ugandan financial sector.
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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
27 December 2021
Circular to all Chief Executive Officers of Credit Reference Bureaus, Commercial Banks, Credit Institutions and Microfinance Deposit-taking Institutions
Small Business Recovery Fund (SBRF) – Credit Reporting Guidelines
Reference is made to Bank of Uganda’s circular Ref. EDS.306.2 dated December 9, 2021 issuing operational guidelines for the Small Business Recovery Fund (SBRF). As the fund administrator, Bank of Uganda has noted the need to streamline the reporting of SBRF loans to the Credit Reference Bureaus to address multiple borrowings.
In this regard, all Participating Financial Institutions (PFI's) are required to report facilities advanced under the SBRF to Credit Reference Bureaus. Accordingly, this is to amend appendix 1.5 of the Data Standardisation Manual (DSM) to include Product type - Small Business Recovery Fund with Product Code 15. This will enable PFI's identify applicant's that had prior access to the fund.
This circular, is therefore intended to direct Credit Reference Bureaus and Participating Financial Institutions to implement the above changes in your respective credit bureau reporting system.
Yours faithfully,
[Signature]
Hannington Wasswa
Ag. 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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Source: Bank of Uganda — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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