The association brings together legitimate, ethical money lenders with the objective of safeguarding the financial system. It actively works to address and correct unethical practices within the sector, which helps improve the overall reputation and integrity of the money lending business
By holding engagement sessions and peer mechanisms, the association promotes and enforces minimum ethical standards among its members, moving away from predatory or illegal lending methods that tarnish the industry
The association acts as a collective voice and a structured platform to strengthen the working relationship with the Uganda Microfinance Regulatory Authority (UMRA), the body mandated to license and supervise money lenders.
It facilitates constructive dialogue and cooperation with the government and regulatory bodies to address industry concerns, which can influence favourable regulations and policies for licensed lenders.
Associations can collaborate with UMRA to identify and address the issue of unlicensed operators, which helps to reinforce the legitimacy and competitive advantage of licensed members.
The association offers platforms for skills development, awareness programs, and training to promote good lending practices and compliance among its members.
It works to raise public awareness about the proper conduct of the money lending business, educating both lenders and borrowers, which can lead to a more informed and stable financial ecosystem.
By presenting unified data the association underscores the sector's significant contribution to the economy, particularly in supporting small businesses and financial inclusion where traditional banking may be inaccessible.
As a unified body, it is better positioned to advocate for the interests of its members, helping to ensure that regulations are balanced and do not unduly restrict the ability of legitimate money lenders to operate responsibly and profitably