Uganda: The Financial Institutions Statute, 1993

This paper is the 'Financial Institutions Statute' as legislated by the Government of Uganda in 1993. It contains statutory provisions for carrying out financial services business in Uganda.

The significant contents of the sections are briefly summarized as follows:

• Interpretation of the application of this Act and definitions of the common terms used;
• The requirements for obtaining a license to operate financial services business;
• Guidelines for capital adequacy norms that are integral to carrying out such business;
• The restrictions on entities that are into this business;
• Issues related to supervision of entities falling under this law.

The other sections of this paper highlight the following issues:

• Guidelines in case of :
  • Liquidation;
  • Seizure;
  • Re-organization.
• Significant issues such as like deposit protection fund etc.

The paper concludes with a miscellaneous chapter that deals with other significant issues not mentioned herewith.