The Independent Uganda: You get the Truth we Pay the Price
OrnellaIneza, an accountant at TweenzForex Bureau in Kimironko, said mergers will enable the concerned forex bureaus to meet the BNR requirements and benefit the sector in terms of ensuring adequate capital level and stability. She said shareholders of her firm would raise the new necessary capital required. Already they have hired qualified staff and acquired the necessary ICT equipment as directed by the regulator.
Kagoyiresaid after the expiry of the June 30 deadline, BNR will be “obliged to take supervisory actions against bureaus that will be found not complying with the new requirements”.
“We are in touch with the association to consider compliance, but taking into account inclusiveness, mainly on borders. For case of non-compliance license revocation may be the final option,” she explained in an interview.
