Yes, online loan apps are legal in Uganda, but the industry is now more heavily regulated. Here’s what you need to know: Regulation: The Tier 4 Microfinance Institutions and Money Lenders Act of 2016: This act provides a framework for regulating microfinance institutions, including digital lenders. Uganda Microfinance Regulatory Authority (UMRA): The body responsible for […]
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Maximum Interest Rate For Money Lenders In Uganda (2024)
Unfortunately, there is still no single, fixed maximum interest rate for money lenders in Uganda. Here’s why this situation persists: Unenforced Legislation: While the Tier 4 Microfinance Institutions and Money Lenders Act 2016 empowers the Minister of Finance to set a cap on interest rates, this hasn’t been done yet. This leaves a regulatory gap […]
Interest Rate For Personal Loan In UAE (2024)
Interest rates for personal loans in the UAE can vary depending on several factors, including: The bank or lender you choose: Different banks and lenders offer varying interest rates based on their own policies and risk assessment. Your creditworthiness: Individuals with a strong credit history and stable income typically qualify for lower interest rates. Loan amount and […]
