• Latest

BOU to regulate mortgage refinancing institutions

March 13, 2025
Preserve Kitubulu central forest reserve to save the environment

Preserve Kitubulu central forest reserve to save the environment

October 23, 2025

Proper household training critical for successful and sustained LPG adoption

October 23, 2025
VINAStech Advert

Why Uganda Must Confront the Illicit Alcohol Crisis Head-On

October 23, 2025

Women Climate Defenders Arrested Over Lwera Wetland Protest

October 23, 2025

Why Court Ordered Makerere University, Attorney General To Pay Costs In Contempt Of Court Case

October 23, 2025
Jinja Diocese Bishop Charles Wamika Dies at 72

Jinja Diocese Bishop Charles Wamika Dies at 72

October 22, 2025
Women in Leadership: Shaping the Future with Courage and Vision

Women in Leadership: Shaping the Future with Courage and Vision

October 22, 2025
Nyanjura Runs to Bisaka for Political Blessings

Nyanjura Runs to Bisaka for Political Blessings

October 22, 2025

West Nile Region: President Museveni’s Message Focused on Consolidating Peace, Promoting Wealth Creation and Development

October 22, 2025
Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

October 22, 2025
63 Passengers Perish in Road Crash on Gulu Highway

46 Confirmed Dead as Police Revises Gulu Highway Death Toll

October 22, 2025
PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

October 22, 2025
  • About Us
  • Internship
  • Contact Us
Thursday, October 23, 2025
Parrots Media
No Result
View All Result
  • Login
  • News
    Preserve Kitubulu central forest reserve to save the environment

    Preserve Kitubulu central forest reserve to save the environment

    Why Court Ordered Makerere University, Attorney General To Pay Costs In Contempt Of Court Case

    Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

    Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

    63 Passengers Perish in Road Crash on Gulu Highway

    46 Confirmed Dead as Police Revises Gulu Highway Death Toll

    PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

    PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

    63 Passengers Perish in Road Crash on Gulu Highway

    63 Passengers Perish in Road Crash on Gulu Highway

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
  • News
    Preserve Kitubulu central forest reserve to save the environment

    Preserve Kitubulu central forest reserve to save the environment

    Why Court Ordered Makerere University, Attorney General To Pay Costs In Contempt Of Court Case

    Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

    Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

    63 Passengers Perish in Road Crash on Gulu Highway

    46 Confirmed Dead as Police Revises Gulu Highway Death Toll

    PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

    PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

    63 Passengers Perish in Road Crash on Gulu Highway

    63 Passengers Perish in Road Crash on Gulu Highway

    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

Preserve Kitubulu central forest reserve to save the environment

Why Court Ordered Makerere University, Attorney General To Pay Costs In Contempt Of Court Case

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.

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

Preserve Kitubulu central forest reserve to save the environment
News

Preserve Kitubulu central forest reserve to save the environment

October 23, 2025
News

Why Court Ordered Makerere University, Attorney General To Pay Costs In Contempt Of Court Case

October 23, 2025
Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines
News

Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

October 22, 2025
63 Passengers Perish in Road Crash on Gulu Highway
News

46 Confirmed Dead as Police Revises Gulu Highway Death Toll

October 22, 2025
PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents
CLIMATE ACTION REPORTS

PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

October 22, 2025
63 Passengers Perish in Road Crash on Gulu Highway
News

63 Passengers Perish in Road Crash on Gulu Highway

October 22, 2025
Next Post

Proud Moment: Ugandan Officials Set for FIFA 2026 Qualifiers

POPULAR NEWS

Minister Amongi, Akena Scrapped from EC Voters’ Register Oops

Minister Amongi, Akena Scrapped from EC Voters’ Register Oops

September 3, 2025
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

CAF Warns Fans Against Obscene and Politically Charged Jerseys at Namboole

August 20, 2025

EDITOR'S PICK

Museveni Pardons Ex NSSF Boss

January 18, 2024

Minister Magezi pulls out of the Igara West MP race.

July 31, 2020
Boda boda passenger killed in Tororo road accident

Boda boda passenger killed in Tororo road accident

September 29, 2023

UPC President Calls for Change, Rallies Support for Party Candidate in Kisoro District By-Election

November 12, 2024
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

  • Preserve Kitubulu central forest reserve to save the environment
  • Proper household training critical for successful and sustained LPG adoption
  • Why Uganda Must Confront the Illicit Alcohol Crisis Head-On
  • Women Climate Defenders Arrested Over Lwera Wetland Protest
October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
  • 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