BOU revokes struggling MDI license
This action has been taken because the Bank of Uganda has determined that the continuation of EFC Uganda Limited’s activities is detrimental to the interests of its depositors due to the institution’s failure to resolve its significant undercapitalization and poor corporate governance.
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Bank of Uganda. (New Vision/File)
By NewVision Reporter
Journalists @NewVision
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Bank of Uganda revoked the working license for Entrepreneurs Financial Center Limited (EFC). The institution opened in Uganda in June 2012 as a microfinance deposit-taking institution (MDI) in Uganda.
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