Uganda Microfinance Regulatory Authority (UMRA)

Uganda Microfinance Regulatory Authority is the government agency responsible for the regulation, licensing, supervision, and oversight of Tier 4 financial institutions and money lenders in Uganda. Established under the Tier 4 Microfinance Institutions and Money Lenders Act, 2016, UMRA was created to promote a safe, transparent, and sustainable microfinance sector while protecting consumers of financial services.

UMRA operates under the supervision of the Government of Uganda and works alongside Bank of Uganda to strengthen financial inclusion and ensure compliance among institutions that fall outside the traditional banking sector.

SERVICES

• Licensing of Money Lenders: Issues licenses to individuals and organizations seeking to operate money lending businesses in Uganda.
• Regulation of Tier 4 Financial Institutions: Supervises and regulates institutions classified under Tier 4 of Uganda’s financial sector framework.
• SACCO Supervision: Oversees registered SACCOs to ensure compliance with applicable laws, governance standards, and operational requirements.
• Consumer Protection: Protects borrowers and customers from unfair lending practices and promotes responsible financial services.
• Compliance Monitoring: Conducts inspections, audits, and monitoring activities to ensure licensed institutions comply with regulations.
• Financial Inclusion Promotion: Supports initiatives aimed at expanding access to financial services, especially among underserved communities.

Countries