The Payment and Settlement Systems Act 2007 has laid down that such not less than 51% of the equity of this company will be held by public sector banks. The work relating to the setting up of NPCI is in progress. Let me now say a few words about the RBI’s initiatives in the area of electronic payment system.
Recognizing the benefits accruing from the recent technological developments in the financial sector, and being mindful of the need not to stifle innovations, Bank of Uganda put in place interim oversight measures to promote the development of payment systems in Uganda.