STATEMENT ON DORMANT ACCOUNTS
An electronic money account that does not have a registered transaction for nine (g) consecutive months shall be considered dormant.
Following the coming into force of the National Payment Systems Act, 2020 and the implementing regulations, Bank of Uganda was given the mandate to regulate Payment Service Providers including Electronic Money Issuers. The Bank wishes to clarify the regulatory provisions for dormant mobile money accounts (e-money accounts) under Section 57 of the National Payment Systems Act 2020 as follows: CLICK HERE FOR MORE ON THIS NOTICE