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Bank Of Uganda Declines To Renew Amin Forex Bureau License

Bank of Uganda (BoU), the regulator of Forex bureaus has said Amin Forex Bureau Exchange Ltd is no longer allowed to transact business after its license expired and wasn’t renewed.

In a statement issued on Wednesday December 6, 2017, BoU Deputy Governor Dr. Louis Kasekende said: “Amin Forex Bureau Ltd is therefore not permitted to transact any business prescribed under the Foreign Exchange Act, 2004. The public is warned that whoever deals with the Forex Bureau, its proprietors, directors or mangers in relation to foreign exchange or money remittance business does so at his or her own risk.”

He added: “The public is further informed that as provided for in section 5 of the Foreign Exchange Act, 2004, no person is allowed to engage in the business of dealing in foreign exchange or money remittance business without a license.

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