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Micro Finance Deposit-Taking Institutions Act, 2003 (No. 626/2009).

Country/Territory
Uganda
Document type
Legislation
Date
2003
Source
FAO, FAOLEX
Long title
An Act to provide for the licensing, regulation and supervision of the microfinance business in Uganda and to provide for matters connected with or incidental to the foregoing.
Subject
Agricultural & rural development
Keyword
Agricultural development Credit Financial agricultural measures Smallholders/peasants
Geographical area
Africa, Eastern Africa, Landlocked Developing Nations, Least Developed Countries
Abstract

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.

Full text
English
Website
www.ulii.org