From CapeNews.Net By ELIZABETH W. SAITO August 8, 2014 Forty years ago today, President Richard M.
Financial Institutions (Licensing) Regulations No. 41
(enacted in 2005)
Financial Institutions (Licensing) Regulations No. 41 of 2005, issued by the Bank of Uganda, include general licensing requirements for financial institutions in Uganda.
The regulations consist of the following sections:
- Part I Preliminary: explains the objectives of the regulations;
- Part II Licensing Requirements: discusses licensing criteria, capital adequacy, ownership structure, overall viability, and supervision;
- Part III Licensing Procedures: explains the procedures on applying for a license, information and supporting documents, acknowledgement, and the processing of applications; and
- Part IV License Fees and Other Requirements.
At the end of these sections, there are three schedules for: 1) an application for license to establish a financial institution, 2) an information sheet, and 3) a personal declaration form.