Bank of Uganda is mandated to supervise Financial Institutions, through the Supervision Function, by the following legislation:
• The Supervision Acts and Regulations
• The Intervention Policy by Government of Uganda 1997
There are different financial institutions supervised by Bank of Uganda, grouped under: commercial banks and non-bank financial institutions.
1. Commercial Banks
The Bank conducts full on-site examination of all commercial banks using a risk-based supervision methodology.
During the year 2004/2005 the Bank commenced the deployment of the Bank Supervision Application (BSA) following successful deployment in ten (10) other countries in the Eastern and Southern Africa region.
The Financial Institutions Act 2004 provides for various mandatory Prompt Corrective Actions which the Bank must undertake to correct weaknesses in the financial institutions before they escalate to unacceptable levels.
2. Non-Bank Financial Institutions
The non-bank financial institutions supervised by the Bank of Uganda are:
1. Credit Institutions Micro-finance
2. Micro Finance Deposit-taking Institutions
3. Forex Bureaux
4. Money Remitters
Annual Supervision Reports