Money Lending License Application In Uganda

Money Lending License Application In Uganda

Money Lending Licence is essential for every person who does the finance business of lending money other than for the companies which are specially regulated by other regulators like RBI for NBFC Companies.

Procedure For Money Lending License Application In Uganda

Any person wishing to lend money must acquire a Money Lending license from Uganda Microfinance regulatory Authority (UMRA) by submitting its incorporation documents, the particulars of its directors and secretary and paying the requisite fee.

The Applicant shall make an application by filling form 1 submit the same to Uganda Microfinance Regulatory Authority,attach all the required documents.An application shall be accompanied by the following requirements:—

a certificate of incorporation;

forms of particulars of directors and secretary;

particulars of the address;

copies of national identity cards for directors and the secretary; and

Evidence of payment of the fees prescribed in schedule 1 to these Regulations.

The Applicant shall submit written application to the Uganda Microfinance Regulatory Authority requesting for a money lending Licence.

The Authority on receiving the application shall carry out a due diligence on the directors and other persons to be involved in the management of the business and shall—

if satisfied that the directors and the management of the money lender are fit to carry on the business of money lending, issue a notice of no objection to the change in management and directors;

The Authority shall consider an application and inform the applicant of its decision within three months after the application has been lodged with it;except that where the Authority requests for more information,the period of three months shall be calculated from the time that the additional information is submitted to the Authority.

The Authority may,on an application duly made and after being furnished with all information as it may require,grant a license or reject the application.

In determining whether to grant a licence or reject an application the Authority may take into account the fitness and propriety of any person who is or will be employed by or associated with the applicant for the purposes of carrying on the money lending business.

Required Documents For Money Lending License Application In Uganda

A certificate of incorporation

Forms of particulars of directors and secretary

Particulars of the address;

Copies of national identity cards for directors and the secretary

Evidence of payment of the fees prescribed.

Eligibility For Money Lending License Application In Uganda

Any person is eligible to begin a Business of Money lending in Uganda

This application allows a person to operate a money lending business in Uganda.

In Uganda no person shall, operate a money Lending Business in Uganda unless authorized by the Uganda Microfinance regulatory Authority

Fees For Money Lending License Application In Uganda

Certification fees: 20,000Ugshs.

Licence Application Money lender: 50,000 Ugshs Non refundable

Annual License Fee: 500,000 Ugshs

Application for a search of the register 25,000Ugshs.

Certificate fees 20,000 Ugshs.

Inspection and registration of additional places 300,000 Ugshs.

For More information on the charges Visit this Link:Bank charges

Validity For Money Lending License Application In Uganda

A licence issued to the money lender is valid until 31st December in every year and may be renewed annually.

Office Locations & Contacts For Money Lending License Application In Uganda

Uganda Microfinance Regulatory Authority (UMRA)

Ruwenzori Towers Block B Ground Floor

P.O.Box x 11545, Kampala Uganda.

Plot 6 Nakasero Road

Tel: +256 417 799 700

Fax: + 256 414 230 163

Website:Uganda Microfinance regulatory Authority

Bank of Uganda

Plot 37/45 Kampala Road

P.O Box 7120, Kampala, Uganda

Tel: +256 414 258-441/6

Tel: +256 414 258 060/9

Tel: +256 417 302 000

Tel: +256 312 392 000

Fax: +256 41-4230878



Website:Bank of Uganda

Bank Of Uganda Branches.

The bank has 9 branches situated in the following towns in the country:

Bank of Uganda.

Arua (Branch)

Location: Plot 27/29 Avenue Road (Inzikuru Road)

Address: P. O. Box 152 Arua

Tel: +256-476-420253

Bank of Uganda

Fort Portal (Branch)

Location: Plot 1 Kaboyo Road

Address: P.O. Box 562 Fort Portal

Tel: +256-483-422532

Bank Of Uganda

Gulu (Branch)

Location: Airfield Road

Address: P.O. Box 46 Gulu

Tel: +256-471-432330

Bank of Uganda

Jinja (Branch)

Location: Plot 3 Busoga Avenue/ Busoga Square

Address: P.O. Box 35 Jinja

Tel: +256-43-4121247

Bank Of Uganda

Kabale (Branch)

Location: Plot 137 Kabale Road

Address: P.O. Box 966 Kabale

Tel: +256-486-423595

Bank of Uganda

Masaka (Branch)

Location: Plot 41 Kampala Road

Address: P.O. Box 1567 Masaka

Tel: +256-481-421246/8

Bank of Uganda

Mbale (Branch)

Location: Plot 34-38 Cathedral Avenue

Address: P.O. Box 2402 Mbale

Tel: +256-454-433632

Bank of Uganda

Mbarara (Branch)

Location: Plot 2 High Street, Mbarara

Address: P.O. Box 1421 Mbarara

Tel: +256-485-420741

Bank of Uganda

Kampala (Branch)

Location: Plot 37/43 Kampala Road, Kampala

Address: P.O Box 7120, Kampala

Tel: +256-41-4258441/6

Bank of Uganda Lira

(Currency Technical Center)

Location: Plot 2, Obote Avenue

Address: P.O. Box, 211 Lira