Parliament Passes Bill to Regulate Mobile Money Transactions

Comments 640 Views
The Speaker of Parliament Rebecca Kadaga chairing the afternoon plenary session. Photo by Parliament of Uganda.

The Speaker of Parliament Rebecca Kadaga chairing the afternoon plenary session. Photo by Parliament of Uganda.

In short
It will require mobile money service providers to get a licence from the Bank of Uganda and submit details of mobile money users to the institution. Under the approved Bill, an electronic money issuer who contravenes provisions of this Act of Parliament commits an offence and is liable on conviction, to a fine not exceeding 20 million Shillings.

 

IP: 18.205.109.152. Referrer: . FirstClickFree: 0. Clicks by IP: ?. Clicks by cookie: ?.