Banking & Financial ServicesThe Big Story

Bank of Uganda Approves Finance Trust Bank’s Application to Downgrade to a Credit Institution Licence shift takes effect April 2026 as Uganda’s banking sector adjusts to tougher capital requirements

A photo collage of Bank of Uganda Supervision Director, David Kalyango, Finance Trust Bank Managing Director,Annet Mulindwa Nakawunde, and Board Chairperson, Dr. Evelyn Kigozi Kahiigi.

The Bank of Uganda (BoU) has approved the transition of Finance Trust Bank Limited from a Tier I commercial banking licence to a Tier II credit institution licence, marking the latest adjustment within Uganda’s regulated financial services sector. In a public notice issued on January 29, 2026, the central bank informed the general public that Finance Trust Bank has been authorised to change its licence status, with the new Tier II licence taking effect on April 1, 2026. BoU said the bank has been granted a three month transition period running from January 1 to March 31, 2026, during which…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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