The efforts to enact this Anti-Money Laundering law are geared towards preventing the misuse of the financial system in Uganda for purposes of international money-laundering and related economic crimes or for facilitating the financing of terrorism.
This means that any impairment in the bank lending channel will have stronger consequences in the euro area than in other economies where firms’ external financing comes largely from corporate bond markets. Banks in the euro area have recently come under pressure both as regards their capital bases and their funding conditions.