Bank of Uganda insists on regulating mobile Money

By Moses Ndhaye.

Mobile telecom operators are optimistic that the new law which government is fronting to regulate Mobile Money industry will increase efficiency in the sector.

Recently Bank of Uganda proposed to front a National Payments law which will to streamline Uganda’s payment.

The General Manager corporate services at MTN Uganda Enid Edroma says although the new law will increase, regulatory burden, but it will be good for the sector.

The new law, will give Bank of Uganda the sole responsibility of regulating mobile money and payment services in Uganda.

Currently Bank of Uganda share the responsibility of regulating mobile money with the Uganda communication commission.