Summary:
- On January 23, 2025, Parliament amended Schedule 2 of the Anti-Money Laundering Act, Cap. 118, exempting NGOs, churches, and other charitable organizations from being classified as accountable persons in the fight against money laundering.
KISORO: Non-governmental organizations (NGOs) in the Kigezi region have welcomed the recent amendment to the Anti-Money Laundering Act, which has removed them from the list of high-risk entities.
On January 23, 2025, Parliament amended Schedule 2 of the Anti-Money Laundering Act, Cap. 118, exempting NGOs, churches, and other charitable organizations from being classified as accountable persons in the fight against money laundering.
Kakuru Robert Byamugisha, the Executive Director of Kick Corruption Out of Uganda, expressed that NGOs will no longer be required to register with the Financial Intelligence Authority, submit returns, or comply with several other regulatory obligations.
CUE IN BYAMUGISHA….ON BILL……RR/ENG//
Pr. Eshima Milton, of Kisoro Community Church in Kisoro Municipality, noted that this development represents a milestone for churches, highlighting their critical role in the country’s development despite facing growing regulatory challenges.
CUE IN ESHIMA….ON BILL……RR//
