The Uganda Microfinance Regulatory Authority (UMRA) is a government agency responsible for the licensing, supervision and regulation of Tier-4 micro finance institutions, money lenders, savings cooperatives and any money-lending institution with capital of less than USh500 million (US$140,000).
[3] In May 2016, the Parliament of Uganda passed the Tier IV Microfinance Institutions Act, to take effect on 1 July 2017.
It also authorizes the Minister of State for Microfinance, to set the interest rates which moneylenders should charge borrowers.
[6] On 8 December 2017, the State Minister of Finance for Microfinance, Haruna Kasolo Kyeyune inaugurated the board of directors, including its chairperson and executive director.
[2] On 8 December 2017, the following seven individuals were appointed to the board of directors of the Uganda Microfinance Regulatory Authority:[2]