Wednesday, May 21, 2025
UG Standard - Latest News
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us
  • Login
UG Standard - Latest News
Your browser does not support the video tag.
ADVERTISEMENT

Uganda removed from FATF grey list

by JACKSON RUGUNDA | UG STANDARD REPORTER
26/03/2025
in Business, News
Reading Time: 1 min read
A A
0
Share on FacebookShare on Twitter
The Bank of Uganda is the central bank of Uganda. Established in 1966, by Act of Parliament, the bank is wholly owned by the government but is not a government department (PHOTO/Courtesy).
The Bank of Uganda is the central bank of Uganda. Established in 1966, by Act of Parliament, the bank is wholly owned by the government but is not a government department (PHOTO/Courtesy).

KAMPALA, Uganda — Uganda’s removal from the Financial Action Task Force’s grey list has been hailed as a significant milestone in the country’s efforts to combat financial crimes.

Godfrey Sebaana, CEO of Diamond Trust Bank, said Uganda’s removal from the list is a testament to the country’s commitment to strengthening its anti-money laundering and counter-terrorism financing frameworks.

Related posts

Museveni splashes cash as he starts PDM tour Luwero

21/05/2025
174
Gold exporters now have to pay billions of shillings in arrears to the taxman. Uganda's mining sector has seen a significant surge in revenue, with gold being one of the key minerals driving growth.

Four Security Operatives Arrested in $1.3 Million Gold Theft Investigation

20/05/2025
244
Charter President of Rotary Club of Uptown Kampala Immaculate Nakyeyune (c) being installed by District Governor Anne Nkutu (r) and Rtn Don of Kampala South

Rotary Club of Uptown Kampala Celebrates Official Charter

20/05/2025
174
The Leader of Opposition in Parliament (LOP), Joel Ssenyonyi

Opposition vows to fight UPDF Bill in Parliament, not boycott

20/05/2025
171

“Exiting the grey list is a substantial milestone, but it must be seen as the beginning of an ongoing commitment to compliance,” Sebaana said during a recent dialogue.

Sebaana emphasized the importance of sustained collaboration between the public and private sectors to ensure Uganda remains compliant with international standards.

“We cannot afford to be complacent,” Sebaana said. “To avoid returning to the grey list, Uganda must continue to strengthen its regulatory oversight, invest in advanced compliance technologies and empower regulatory bodies like the Financial Intelligence Authority with greater resources and autonomy.”

Sylvia Namubiru, acting director of the Financial Intelligence Authority, echoed Sebaana’s sentiments, saying Uganda’s removal from the grey list is a significant achievement.

“However, we must remain vigilant and continue to strengthen our anti-money laundering and counter-terrorism financing frameworks to prevent the risk of re-listing,” Namubiru said.

Sebaana concluded that Uganda must position itself as a competitive, secure and attractive destination for global investment to maintain its position in the global financial ecosystem.

Share this:

  • Share
  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X
  • Click to share on LinkedIn (Opens in new window) LinkedIn
  • Click to share on X (Opens in new window) X
  • Click to share on Pinterest (Opens in new window) Pinterest
  • Click to share on Telegram (Opens in new window) Telegram
  • Click to share on WhatsApp (Opens in new window) WhatsApp

Like this:

Like Loading...

Related

Tags: Anti-Money-LaunderingCounter-Terrorism FinancingDiamond Trust BankEast africaeconomic growthFATFFATF grey listFinancial Action Task ForceFinancial Intelligence AuthorityFinancial SectorUganda

Related Posts

 Abbas urges U.S. to compel Israel to stop violations against Palestinians
News

 Abbas urges U.S. to compel Israel to stop violations against Palestinians

05/11/2022
0
236

Abbas urges U.S. to compel Israel to stop violations against Palestinians RAMALLAH, Nov. 4 (Xinhua) -- Palestinian President Mahmoud Abbas...

Read moreDetails
Equity ranked 4th strongest banking brand globally on brand strength, scoring 92.4 points out of 100

 Equity Bank Under Scrutiny for Alleged Role in UGX.3bn Fake Gold Scam

09/07/2024
530
Kabuleta and other opposition politicians have teamed up to put an end to Museveni's leadership

 Kabuleta, other opposition politicians team up to put an end to Museveni’s leadership

27/02/2024
389
President Museveni

 Museveni commends Ugandan scientists! 

21/07/2020
852
Load More

Popular Articles

  • Check out the top schools with pupils who scored 6 in 4 aggregates in the 2024 PLE results, as released by UNEB

    PLE 2024 Results: Top Schools with 6 in 4 Aggregates

    4299 shares
    Share 1720 Tweet 1075
  • NIRA unveils high-tech National ID, mass enrollment set to begin

    2569 shares
    Share 1028 Tweet 642
  • FULL LIST: Ministry of Education, NCDC publish self-study workbooks amid COVID-19 lockdown

    3318 shares
    Share 1346 Tweet 822
  • How to Check PLE Results 2024 on Phone, Online

    1776 shares
    Share 710 Tweet 444
  • PLE 2024 Results: UNEB Clarifies on Release Date

    1646 shares
    Share 658 Tweet 412
  • MPs clear govt to cancel 2020 academic year

    2795 shares
    Share 1149 Tweet 686
  • UNEB agrees to adjust examinations timetables to accommodate lost time

    2660 shares
    Share 1086 Tweet 656

Recent Articles

Mufti Returns from Russia

21/05/2025

Museveni splashes cash as he starts PDM tour Luwero

21/05/2025
Court in Kampala viewed crime scene videos in the Henry Katanga murder trial. Footage showed a nurse describing Molly Katanga's severe head wound and other injuries.

Katanga trial: Witness recounts hearing woman’s cries, struggle in bedroom

21/05/2025
UBL signs a 5-year deal to supply Uganda Waragi and other products to Ugandan diplomatic missions abroad, boosting exports and supporting the "Buy Uganda, Build Uganda" agenda.

UBL Signs 5-Year Deal to Supply Uganda Waragi to Foreign Missions

20/05/2025
Qualcomm unveils its Make in Africa 2025 cohort, featuring 10 African deep tech startups focused on AI, 5G, and IoT.

Qualcomm Unveils Africa Tech Cohort For 2025

20/05/2025
The accused person (standing) in court on Tuesday as they read for him the charges. Courtesy photo

Former Lira district Councilor remanded over charges of Conspiracy to defraud

20/05/2025
Amb. Milton Kambula, President Global Peace Foundation (GPF)

2026 Elections: Amb. Kambula urges Ugandans to Desistfrom Political, Tribal Divisions

20/05/2025

Recent CommentsRecent Comments

  • BIG STORY: US FDA Accepts Dei BioPharma’s Application For Ground Breaking Biological Diabetes And Weight Loss Drug – Press Uganda on BIG STORY: US FDA accepts Dei BioPharma’s application for ground breaking biological diabetes and weight loss drug
  • Week 6: 30 More Take Home Prizes In Shell Uganda Driver Promo – Press Uganda on Week 6: 30 More Take Home Prizes in Shell Uganda Driver Promo
  • Advocate Charged And Remanded Over Forgery – Press Uganda on Advocate charged and remanded over Forgery
  • Stanbic Bank Uganda Offers Preapproved Mortgages Up To 500M – Press Uganda on Stanbic Bank Uganda Offers Preapproved Mortgages Up to 500M
  • BroadPay Building Bridges To Financial Inclusion Through Local Payment Innovation – Press Uganda on BroadPay Building Bridges to Financial Inclusion Through Local Payment Innovation
UG Standard - Latest News

UG Standard, published via www.ugstandard.com isa publication of Sahel Media Solutions Ltd, a professional Digital/New Media company in Uganda info@ugstandard.com

Follow us on social media:

Latest News

  • Mufti Returns from Russia
  • Museveni splashes cash as he starts PDM tour Luwero
  • Katanga trial: Witness recounts hearing woman’s cries, struggle in bedroom
  • UBL Signs 5-Year Deal to Supply Uganda Waragi to Foreign Missions
  • Qualcomm Unveils Africa Tech Cohort For 2025
  • Former Lira district Councilor remanded over charges of Conspiracy to defraud

OpED

Inside South Africa’s Retail Shake-Up

Afrikaners for the U.S. as Refugees?

In Memoriam: Rajiv Ruparelia – A Legacy of Vision and Heart

ODEKE BAZEL: The village has voted, but what did it say?

Beyond the cane: The power of positive discipline

© 2024 Ugstandard - Latest News by Digital/New Media company.

Welcome Back!

Sign In with Facebook
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • DIPLOMACY
    • COURT
    • AFRICA
    • BOOK REVIEW
    • INTERVIEW:
    • National
    • Parliament
    • World
    • Regional
  • Business
    • AGRIBUSINESS
    • OIL & GAS
    • REAL ESTATE
    • TECH
    • INNOVATIONS
    • TELCOM
  • OpED
  • EDUCATION
  • INVESTIGATION
    • NATIONAL ARCHIVE
    • SPECIAL REPORT
    • ANALYSIS
  • FEATURES
    • SOCIETY
    • Community
    • Pictorial
    • PROFILES
    • Lifestyle
    • Health
    • ENVIRONMENT
  • Tours & Travel
    • Hotel & Hospitality
  • Sports
  • About Us

© 2024 Ugstandard - Latest News by Digital/New Media company.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d