2021-02-26

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The National Payment Systems Sandbox Regulations

Issued by the Ugandan Minister in consultation with the central bank, these regulations establish a formal regulatory sandbox framework for testing innovative payment products and services. Applicants must submit detailed proposals, risk and exit plans, and supporting documentation to the central bank, which conducts a fit-and-proper assessment before granting written approval within sixty days. The resulting six-month approval, extendable by another six months, may be revoked or suspended if participants fail to implement safeguards, breach data security, or cause customer detriment.

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National Payment Systems Act 20…National Payment Systems Act 2020The National Payment SystemsSandbox Regulations2021-02-26 · this documentThe National Payment Systems Sandbox Regulations (2021-02-26)
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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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