Bank of Uganda (BoU) is the Central Bank of the Republic of Uganda. The primary purpose of the Bank is to foster price stability and a sound financial system. Together with other institutions, it also plays a pivotal role as a centre of excellence in upholding macroeconomic stability.
Uganda Development Bank Limited (UDBL) is a Government owned Development Finance Institution (DFI) whose objective is to accelerate socio-economic development through sustainable financial interventions in line with the country’s development priorities.
The Bank supports Small & Medium Enterprises (SMEs) and large scale development projects in the various key growth sectors notably;
·Agriculture (Primary Agriculture and Agro-industrialization)
UMRA seeks to promote a sound and sustainable non-bank financial institution’s sector (Savings and Credit Cooperatives, Village Saving and Loan Associations, Non-deposit Taking Microfinance Institutions and Moneylenders) to enhance financial inclusion, financial stability, and financial consumer protection.
UMRA also seeks to protect interests of members and beneficiaries of Tier 4 microfinance institutions including the promotion of transparency and accountability by applying both prudential and non-prudential standards, promote stability and integrity of the financial sector through ensuring stability and security of Tier 4 microfinance institutions and other functions. Website is:
The Capital Markets Authority (CMA) is responsible for promoting, developing and regulating the capital markets industry in Uganda, with the overall objectives of investor protection and market efficiency. Website is: https://cmauganda.co.ug/
i.The Insurance Regulatory Authority of Uganda (IRA)
The Insurance Regulatory Authority of Uganda (IRA) was established under section 14 of the Insurance Statute 1996 now The Insurance Act, (Chap213) Laws of Uganda, 2000 (Insurance Act) which came into effect on 4th April 1996 and commenced operations in April 1997. The main Insurance Act was amended in 2016 to allow for compliance with International standards, address governance issues, and provide for agriculture insurance, takaful insurance, among others.
The main object of the Authority is to ensure the effective administration, supervision, regulation and control of the business of Insurance in Uganda. The website is: https://www.ira.go.ug/
The establishment of a Financial Intelligence Authority (FIA) was established under the Anti-Money Laundering Act, 2013 and its mandate is to prohibit and prevent money laundering and other financial crimes. The main function of the FIA is to:
a.To impose certain duties on institutions and other persons, businesses and professions who might be used for money laundering purposes.
b. To make orders in relation to proceeds of crime and properties of offenders.
c.To provide for international cooperation in investigations, prosecution and other legal processes of prohibiting and preventing money laundering.
d.To designate money laundering as an extraditable offence; and to provide for other related matters.
The National Social Security Fund (NSSF Uganda) is a National Saving Scheme mandated by Government through the National Social Security Fund Act, Cap 222 (Laws of Uganda) to provide social security services to employees in Uganda.
MSCL is a rural financial services company that was set up in 2001 to manage micro-credit funds on behalf of Government of Uganda. MSCL provides affordable credit and business development services to SACCOs, Producer Cooperatives, Microfinance Institutions, Village Savings and Loans Associations, and Small and Medium Enterprises. MSCL prioritizes support to SACCOs and Groups to increase productivity, income and employment opportunities for Ugandans, especially those who are active in the agricultural sector.
iii. Project for Financial Inclusion in Rural Areas (PROFIRA)
The International Fund for Agricultural Development (IFAD) and GoU designed the Project for Financial Inclusion in Rural Areas (PROFIRA) in 2013. The project focuses on the large portion of the rural population that has little or no access to financial services and on two rural institutions that have successfully demonstrated that sound and appropriate financial services can be provided to even the poorest members of rural communities namely, Savings and Credit Cooperatives (SACCOs) and Community Savings and Credit Groups (CSCGs).