• Latest

BOU to regulate mortgage refinancing institutions

March 13, 2025
FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

FDC Cancels National Delegates Conference

July 30, 2025
FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

July 30, 2025
VINAStech Advert
FDC Endorses Nandala Mafabi for Presidency

FDC Endorses Nandala Mafabi for Presidency

July 30, 2025
Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

July 30, 2025
Who is the FDC Presidential Candidate? 

Who is the FDC Presidential Candidate? 

July 28, 2025
Father Lynched by Mob After Killing Daughter for Reporting Him to Police

Suspected Cattle Thief Killed in Mob Justice in Kabale

July 27, 2025
SMEs Tipped on How to Win Contracts in the Oil and Gas Sector

SMEs Tipped on How to Win Contracts in the Oil and Gas Sector

July 26, 2025
Health Facilities in Buyende District Applauded for Integrating WASH Project into Services

Health Facilities in Buyende District Applauded for Integrating WASH Project into Services

July 26, 2025
Sheema University Students’ Association to Host Hand Over and Freshers’ Welcoming Party

Sheema University Students’ Association to Host Hand Over and Freshers’ Welcoming Party

July 26, 2025

“Life Is Scum”: Kabale University Student Leaves Suicide Note, Takes Own Life

July 25, 2025

Muntu Nominated as ANT Presidential Flag Bearer for 2026 Elections

July 25, 2025
Chief Justice Breaks Ground for Regional Court of Appeal in Mbarara

Chief Justice Breaks Ground for Regional Court of Appeal in Mbarara

July 25, 2025
  • About Us
  • Internship
  • Contact Us
Thursday, July 31, 2025
Parrots Media
No Result
View All Result
  • Login
  • News
    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    FDC Cancels National Delegates Conference

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

    Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

    Who is the FDC Presidential Candidate? 

    Who is the FDC Presidential Candidate? 

    SMEs Tipped on How to Win Contracts in the Oil and Gas Sector

    SMEs Tipped on How to Win Contracts in the Oil and Gas Sector

    Sheema University Students’ Association to Host Hand Over and Freshers’ Welcoming Party

    Sheema University Students’ Association to Host Hand Over and Freshers’ Welcoming Party

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
  • News
    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    FDC Cancels National Delegates Conference

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

    Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

    Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

    Who is the FDC Presidential Candidate? 

    Who is the FDC Presidential Candidate? 

    SMEs Tipped on How to Win Contracts in the Oil and Gas Sector

    SMEs Tipped on How to Win Contracts in the Oil and Gas Sector

    Sheema University Students’ Association to Host Hand Over and Freshers’ Welcoming Party

    Sheema University Students’ Association to Host Hand Over and Freshers’ Welcoming Party

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
No Result
View All Result
Parrots Media
No Result
View All Result
Home News

BOU to regulate mortgage refinancing institutions

Parrots Media by Parrots Media
March 13, 2025
in News
0
280
SHARES
4.3k
VIEWS
Share on FacebookShare on X

By Our Reporter,

NATIONAL

READ ALSO

FDC Cancels National Delegates Conference

FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

Bank of Uganda is set to regulate operations of mortgage refinancing institutions once the Mortgage Refinance Institutions Bill, 2025 is passed into law.

The Bill mandates the Central Bank to consider applications for approval to carry out Islamic mortgage refinance business.
“A person shall not conduct a mortgage refinance business in Uganda without a licence or an approval in the case of Islamic mortgage refinance business issued by the Central Bank in accordance with this Act,” the Bill reads in part.

The Bill was tabled for its First Reading by the Minister of State for Tourism, Wildlife and Antiquities, Hon. Martin Mugarra during the plenary sitting on Wednesday, 12 March 2025.
“Currently, there is no law regulating the establishment of mortgage refinance institutions in Uganda. Mortgage refinance institutions play a key role in providing liquidity to financial institutions and microfinance deposit-taking institutions to enable them issue long-term mortgages,” Mugarra said.

The Bill states that in the absence of mortgage refinance institutions, primary mortgage lenders have continuously relied on customer deposits and other short term borrowing to finance their mortgages and other long term credit facilities, causing maturity mismatch.
“The Bill requires mortgage refinance institutions to provide long-term funding to primary mortgage lenders by re-financing or pre-financing mortgage portfolios for a long period of time of at least five years,” the Bill states.

According to the proposed law, long term lending will enable primary mortgage lenders to offer mortgages to the public at more affordable interest rates, manageable payment installments, Iong-term payment durations and extending to borrowers, a grace period prior to repayment of the loan.
“Thus, the enactment of the Mortgage Refinance Institutions Bill, 2025 will lead to increased access to financing for primary mortgage lenders that in long term will have an effect of facilitating affordable housing in Uganda,” the Bill reads in part.

ADVERTISEMENT

The proposed law is tough on licenced mortgage refinancing institutions that fail to commence business within a year of registration stating that, ‘where a licencee fails to commence a mortgage refinance business within 12 months from the date of issue of the license, the Central Bank shall revoke the licence’.

The Bill also imposes a fine of Shs10 million or a seven-year jail term, or both on an individual convicted of operating without a licence while a body corporate will be fined Shs140 million.

Mortgage refinance institutions refinance primary mortgage lenders and the Bill prohibits mortgage refinance institutions from offering credit facilities to any other person other than primary mortgage lenders that are in good standing.

The Committee on Finance, Planning and Economic Development will now consider the Bill and report back to the House within 45 days.

Source: Parliament of Uganda Website 

Tags: Bank of UgandaBOUMortgage Refinancing Institutions

Related Posts

FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal
News

FDC Cancels National Delegates Conference

July 30, 2025
FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal
News

FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal

July 30, 2025
Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.
News

Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.

July 30, 2025
Who is the FDC Presidential Candidate? 
News

Who is the FDC Presidential Candidate? 

July 28, 2025
SMEs Tipped on How to Win Contracts in the Oil and Gas Sector
News

SMEs Tipped on How to Win Contracts in the Oil and Gas Sector

July 26, 2025
Sheema University Students’ Association to Host Hand Over and Freshers’ Welcoming Party
News

Sheema University Students’ Association to Host Hand Over and Freshers’ Welcoming Party

July 26, 2025
Next Post

Proud Moment: Ugandan Officials Set for FIFA 2026 Qualifiers

POPULAR NEWS

Catholic Priest Speaks Out Against Museveni and Son’s Leadership

Catholic Priest Speaks Out Against Museveni and Son’s Leadership

February 16, 2025

“Life Is Scum”: Kabale University Student Leaves Suicide Note, Takes Own Life

July 25, 2025

Former IGP Okoth Ogola Dies

February 14, 2025

A Love Beyond Distance: A review of Leonard Kamugisha Akida’s poetic tribute on valentine’s day

February 14, 2025

Besigye Sends Easter Message from Luzira Prison as Archbishop Kazimba Urges for Release of Political Prisoners

April 18, 2025

EDITOR'S PICK

FDC contributes towards the Busoga Royal wedding

FDC contributes towards the Busoga Royal wedding

November 8, 2023

Makerere Graduate gifts lecturer land

May 25, 2021

Manslayers strangle and dump man’s body centrist Kabagarame road.

August 4, 2021

IGG Probe Into Energy Ministry Corruption Scandal

July 4, 2023
VINAStech advert VINAStech advert VINAStech advert
ADVERTISEMENT

About

Parrots Media

A Public Relations and Media Services Company registered and licensed to operate in Uganda and the Great Lakes Region.

Follow us

Categories

  • Business
  • BUSINESS REPORTS
  • CLIMATE ACTION REPORTS
  • Climate Change
  • COMMUNITY REPORTS
  • Education
  • Entertainment
  • FEATURES
  • Health
  • Lifestyle
  • News
  • News
  • OBITUARY
  • Obituary
  • Opinions
  • RELIGION
  • Religion
  • Science and Technology
  • Sports
  • Sports and Entertainment
  • TOURISM

Recent Updates

  • FDC Cancels National Delegates Conference
  • FDC’s Nandala Mafabi to Run Unopposed After Amuriat’s Withdrawal
  • FDC Endorses Nandala Mafabi for Presidency
  • Vivo Energy Uganda and Uganda National Oil Company partner to develop LPG storage hub in Kabalega Industrial Park Kampala, Uganda.
July 2025
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  
« Jun    
  • About Us
  • Internship
  • Contact Us

© 2025 Parrots Media | Website Designed and Maintained by VINAStech

No Result
View All Result
  • Parrots Media
  • News
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Lifestyle
  • Others
    • Climate Change
    • Education
    • Religion
    • Opinions

© 2025 Parrots Media | Website Designed and Maintained by VINAStech

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

You cannot copy content of this page