State minister for Finance, Planning and Economic Development (Microfinance), Haruna Kasolo Kyeyune, has presented to Parliament the Microfinance Deposit-Taking Institutions (Amendment) Bill, 2022 for First Reading. This was during the plenary sitting of Tuesday, 22 November 2022 chaired by Speaker Anita Among. According to the bill, the Microfinance Deposit-Taking Institutions (MDIs) referred to as microfinance banks will be allowed to offer among others, Islamic banking, agent banking as well as bank assurance services. Currently, the existing MDIs have been offering limited services compared to commercial banks like underwriting and placement of securities, offering cheques, dealing in foreign currency, and transacting…
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