This Act provides rules for the micro-financing business in Uganda and for the licensing and supervision of institutions providing micro-financing and deposit taking of microbusiness. The Central Bank shall establish a Micro Finance Deposit-Taking Institutions (MDI) Deposit Protection Fund. Licences shall be granted and supervision carried out by the Central Bank. A MDI shall not engage directly in agriculture, except in the course of satisfaction of its debts due to it for the purpose of carrying on its business. The Act also places restrictions on participation of MDI's participation in other business including agriculture.
Uganda · 2003-04-11