MPs fault govt for delaying law regulating mobile money

Members of Parliament on Wednesday faulted the government for delaying the enactment of a law for regulating mobile money.

The Kasilo County MP Elijah Okupa reminded Parliament that whereas the executive had assured the House that it would have the Bill tabled before the end of October 2018, it is yet to be finalised.

"Since last year in October, the government has been telling us they are finalising the drafting of the Bill. It seems they are telling us lies," Okupa argued.

The Jinja East MP Paul Mwiru told Parliament that he already has a draft of a private member's bill which he was ready to present since the executive is dragging its feet over the matter.

Reports from Bank of Uganda indicate that whereas only four million Ugandans have accounts with commercial banks, over 24 million Ugandans have mobile money accounts.

The MPs were reacting to a statement from the state minister for finance, David Bahati, who apologised to the house over the government's had delayed to finalise the Bill.

Bahati once again assured Parliament that the Bill would be presented in the month of April.

"The principles for the Bill have already been approved by Cabinet and the First Parliamentary Council has embarked on drafting the Bill," Bahati explained.

He added that the Bill being drafted is titled the National Payment System Bill and that it will greatly help the government in regulating electronic transactions like mobile money transactions.

The Deputy Speaker Jacob Oulanyah implored the legislators to be more patient since the government is drafting a law for regulating a new area.

Oulanyah, however, notified Mwiru to get his private member's bill ready so that if at the end of April the government has not presented the Bill, Parliament would proceed with the private bill.