Micro Finance Deposit-Taking Institutions Act No. 5 (consumer protection-related)

Uganda

(enacted in 2003)

Micro Finance Deposit-Taking Institutions Act No. 5 of 2003 (consumer protection-related) created the conditions for micro finance institutions to become regulated, deposit-taking institutions. The act mandates the establishment of the MDI Deposit Protection Fund within the Central Bank of Uganda. The act also regulates the provision of negative information to the Credit Reference Bureau, limiting the scope of such information and requiring advance notice to a customer that negative information will be disclosed.