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What you need to know:

However, WorldRemit as a company has special arrangements with the financial institutions to conduct money transfer services in collaboration with them.

The Bank of Uganda (BoU) has advised the general public who have their money that has been sent to them through WorldRemit Money Transfer (U) Ltd and have not received it, to send their claim with evidence to the central bank office.

“Pursuant to regulation 19 (3) of the Foreign Exchange (Forex Bureaus and Money Remittance) regulations, 2006, the BoU hereby informs the public that WorldRemit Money Transfer (U) Ltd voluntarily ceased to carry on money remittance business,” a press statement issued Monday reads in part.

“Customers with outstanding claims for monies given to WorldRemit for remittance purposes should submit the claims with evidence to the office of the Director Non-Bank Financial Institutions Department at BoU by July 18, 2022,” the statement further reads.

BoU assures the public that it will continue to safeguard the stability and integrity of the financial sector.

However, WorldRemit as a company has special arrangements with the financial institutions to conduct money transfer services in collaboration with them.

“The public is notified that the closure of WorldRemit Money Transfer (U) Ltd as a company will not affect WorldRemit money remittance products offered by several supervised financial institutions in Uganda,” the BoU clarified.

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