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REVOCATION OF FOREX BUREAU AND MONEY REMITTANCE LICENCE. In accordance with section 6(1) and 6(3) of the Foreign Exchange Act, 2004, Bank of Uganda has with immediate effect revoked the Forex Bureau and Money Remittance Licences for Jaffery Forex Bureau Limited.
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May 12, 2020 In short. The lawyers led by Faisal Mularila and Alvin Jabbo noted that the decision to revoke the company's license stemmed from allegations
Bank of Uganda revoked the licenses accusing the Forex bureau of flouting regulations that govern the foreign exchange and money remittance business in Uganda. However, through its lawyers of Kinobe and Mutyaba Company Advocates, Jaffery Forex Bureau told court that it has always carried out legitimate business since its inception in 1997 until their license was revoked.
The Bureau is licensed by Bank of Uganda, the central bank. The Bureau is also a member of Uganda Forex Bureau Association. From inception, the focus of Jaffery Forex Bureau was to meet foreign exchange needs of the business community. Customers included the importers, exporters, manufacturing firms, traders in the local market. Apply at EverJobs
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