The Uganda Microfinance Regulatory Authority (UMRA), has protested the move by government to move it into the Ministry of Finance saying that its objectives and functions will not be effectively carried out within the hierarchy of the Ministry. “Globally, regulators who are able to set rules independently are more likely to be motivated to enforce them,” she added. Patrick Ocan, (UPC, Apac Municipality) queried the manner in which the rationalisation Bill was brought and accused government of not doing enough research before presenting the Bill. The Committee Chairperson, Hon. Distributed by APO Group on behalf of Parliament of the Republic of Uganda.

Source: The North Africa Journal February 27, 2024 12:41 UTC