Adjustments to traditional money lenders' loan structures | MorningAtNTV
Last week parliament passed a tier for microfinance institutions and money lenders' bill 2024 that has caused concerns among the stakeholders in the country's financial system. The motion that was moved by Bunyole East County MP Yusul Mutembuli is now awaiting the president's accent. Money lenders are quizzical about the government's intent with a notion that even the banks that take deposits from customers haven't been capped in interest rates why them? However, the question is whether the move to improve the law is the solution to Ugandans' financial struggles and how will it improve the financial system and sector in uganda. In the early 90’s the Government carried out a comprehensive review of Uganda’s banking sector.
