BOU warns on fake lenders

May 06, 2008

THE central bank has caution the public against money lenders and micro-finance institutions that are operating illegally.

By Samuel Balagadde

THE central bank has caution the public against money lenders and micro-finance institutions that are operating illegally.

Anthony Opio, the director for non-banking services, said illegal micro-finance institutions put depositors’ savings at risk.

“The central bank only regulates Micro-finance Deposit-taking Institution but many have continued to operate illegally,” said Opio.

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