Legitimate Money Lenders have urged the government to closely monitor economic activity during the Christmas season while re-opening dialogue on lending rates. Through the Money Lenders Association of Uganda (MLAU), comprising legitimate, ethical money lenders registered with the Uganda Microfinance Regulatory Authority (UMRA), the money lenders have called for the Government and economists to reconsider the policy capping lending rates. Legal Notice No. 21 of 2024 under the Tier 4 Microfinance Institutions and Money Lenders Act, Cap 61 issued by the Ministry of Finance, Planning and Economic Development Minister Hon. Matia Kasaija, recently capped the minimum interest money lenders can…
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