UGANDA FOREX BUREAU AND MONEY REMITTANCE ASSOCIATION

The Uganda Forex Bureau and Money Remittance Association is an umbrella association of all Forex Bureaux and Money Transfer Operators in Uganda. The Association is a non profit, non governmental organization that was registered in Uganda as a company limited by guarantee in 2000.

The Uganda Forex Bureau Association now Uganda Forex Bureau and Money Remittance Association was inaugurated on January 27th, 2001 by the Governor Bank of Uganda. The Bank of Uganda Policy on licensing Forex Bureaus requires that operators must be fully paid up members of the Uganda Forex Bureau and Money Remittance Association.

MISSION

Our mission is to ensure the promotion, encouragement and protection of the principles and practice of forex dealing and to regulate and maintain high standards of currency dealing ethics while keeping in line with the rules and regulations on foreign exchange as provided by Bank of Uganda.

MEMBERSHIP BENEFITS

  • Easier communication between forex bureaus and also between forex bureaus and Bank of Uganda and any other player in the forex market.
  • Sharing information plus other resources which will enhance the performance of the bureau like training programmes.
  • The Association insists on high ethical standards and integrity in operations which has enhanced the image of the forex bureaus.
  • The Association by acting as one body with one voice has improved bargaining power.
  • Through coordination and cooperation the association has made it possible for bureaus to enjoy the benefits of synergy as a result of resource sharing and out sourcing competencies.