Bank of Uganda poised to take control of mobile money services
Deputy governor stresses need for regulation in financial institutions
The Ugandan government is drafting legislation that will transfer the regulation of mobile money services to the Bank of Uganda, said deputy governor Louis Kasekende.
In a speech released on April 24, Kasekende said the national payment system law will give sole responsibility for the regulation of mobile money and payment services to the BoU. The legislation was endorsed by the minister of finance, Matia Kasaija, in February and is expected to become law by the end of the year.
Currently, the
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