License to conduct micro finance business

To restrict entry into the financial sector to viable institutions that are adequately capitalized, efficiently managed, properly governed and owned by fit and proper shareholders

An application for a license to operate an institution shall be submitted through a letter duly signed by the applicant, addressed to the Executive Director, Supervision Function, Bank of Uganda and shall contain the following information:

  • A certificate of incorporation and memorandum and articles of association from Uganda Registration Services Bureau. OR other instrument under which the company is incorporated.
  • Verified official notification of the company's registered place of business.
  • Amount of authorized and paid up capital.
  • The prospective place of operation, indicating that of the head office and branch offices.
  • Certificate of a time deposit equivalent to seventy five percent of the required minimum paid-up capital deposited with a commercial bank and which shall be held with the bank until the license is approved.
  • Biographical data on each of the founding shareholders, together with a breakdown of the proposed ownership structure and of the proposed directors and officers.