Pursuant to the powers granted to it under section 78 of the financial institutions Act 2004, Bank of Uganda, either by itself or its appointed agent or any other person authorised by it, is empowered to establish a credit reference bureau for the purpose of disseminating credit information among financial institutions.

The Bank of Uganda, according to sources in the bank, has today exercised those powers by licencing one credit bureau service provider and opened up the market by licencing additional credit reference bureau service providers.

The executive director supervision, bank ofUganda, now says that interested applicants may submit their applications for the provision of the credit reference bureau services for financial institutions and microfinance deposit-taking institutions to the Bank of Uganda.