Online money lending and it's conduct
21/03/2022
Mbarara
Dear Bank of Uganda (BoU),
Re. Complain about overcharging.
It's not clear weather these sites have licence by bou.for they charge high profits.eg 20000sh(profit) for every 40000sh (loan)in a period of one week.
Is this in accordance with the law?
They also access personal information like files, contact s,call etc which they track remotely anduse it for wrongly .eg notifying the that this person have squired a loan or have failled to pay.thus ashaming.
Yours faithfully,
KWESIGA PETER
Kwesigapeter