Microfinance Regulation Department (MRD)

Official Twitter handle for Microfinance Regulation Department (MRD) under Ministry of Finance Planning and Economic Development (MOFPED)

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

#MondayMotivation

[Ministry of Finance @mofpedU]

READY IS THE WORD:
It's ready.
#KnowYourBudget25

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

https://t.co/OsYpP0IT9c Strong credit policies can address defaulting.

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Rise and Show Up.

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

IS YOUR SACCO LICENSED? https://t.co/91oBmt64wm

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

RAMADHAN KAREEM.

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Our Officers have paid a courtesy visit to Kayunga RDC Mrs. Nalubega Seguya and Kayunga LCV Chairman Mr. Muwonge who raised concerns about illegal money lenders in the area. Both the RDC and Chairman pledged to support the Authority to restore sanity amongst Money lenders

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Does the pressure for love on #ValentinesDay increase or decrease? Either way, do not get tempted to borrow from illegal money lenders to impress the Love of your life .

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Why your SACCO needs a license.

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Premises inspections are underway around the country to verify addresses of institutions that applied for money lending. This activity seeks to eradicate #Briefcase money lenders.

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Defiance will only land your Money Lending institution in confrontation with the law. Regulation 18 of Money Lending Regulations prohibits use of National ID and atm cards as collaterals in loan transactions. These companies have been closed down exposing their loan portfolio.

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Earlier today, UMRA closed six illegal lending institutions in Kaberamaido.

These include:

- Barabesa financial services
- Okaflex financial services
- K&R financial services
- Impifiizi Credit agencies (U) Ltd
- Tayari financial services
- Katokabo financial services

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Regulations.

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

89 (1) of the Tier 4 Microfinance Institutions and Money
Lenders Act Cap 61 that is effective under implementation through
Legal Notice No 21 of 2024.

4. Demanding and accepting national identity cards which violates
Section 8 (1) of the Tier 4 Microfinance and money lenders

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

As we make the final bend towards ending January, here are some tips for Loan Repayment....

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

#LendingApps

[Daily Monitor @DailyMonitor]

Registration of saving groups guarantees legal protection and financial security for members https://t.co/1eu8PmQuQF #MonitorUpdates

[Microfinance Regulation Department (MRD) @UgMicrofinAuth]

Avoid such schemes