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Uganda - Apply for License to Transact Post Office Savings Bank

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Apply In-Person

  1. The application for License to transact or carry on a post office savings bank shall be made in writing to the central bank of Uganda for a license. Find their website on the following Link Bank of Uganda
    • The Act specifies the License to Transact Financial Institutions Business of a Post Office Savings Bank as a Class 2 License.
  2. Applicants are required to collect and complete the prescribed application form, obtainable at Bank of Uganda head office.
  3. Submit the completed form in all respect and all the relevant documents to the Bank of Uganda. Any omission of the supporting documents will render the application process incomplete.
    • The law States that no person shall operate a post office saving bank without a valid license, as the case may be, granted by the licensing Authority.
  4. Upon receipt of the application file, the central bank receiving officer will verify if all the information and documentation are in order, before registering the application to be forwarded for assessment, processing, and consideration by the Central Bank Licensing Board.
  5. The central bank licensing board shall, within 6 months of receipt of an application, investigate and prepare a detailed report in respect of the application.
  6. During the assessment process the Central Bank shall be guided by the following principles:
    • Whether the new established post office savings bank license will bring any benefits to the national economy and to consumers in the financial sector.
    • Whether the applicant can provide financial services in respect of which the license application is made, in a safe and sustainable manner.
  7. If, after receipt of the application, the Central Bank is of the opinion that it requires further information to assess the application, the Central Bank may, within 21 days from the date of receipt of the application and by written notice, request for further information from the applicant or third parties, as may be identified by the Central Bank, and the notice shall:
    • Specify the information required from the applicant.
    • Where applicable, notify referees of the application and invite comments from them.
    • Specify the time within which the information or comments shall be submitted to the Central Bank.
    • Specify the date by which the Central Bank intends to make a final decision on the application.
  8. The Authority shall notify the applicant, in writing, of its decision Within fourteen days after the afore-mentioned period, the Central Bank shall grant or refuse to grant the application and where the Central Bank decides not to issue the license, it shall state the reasons in such notice.
  9. If approved, the Central Bank will inform the applicant within 7 days of making its decision and request the applicant to pay the prescribed license fee and collect the post office saving bank License.
  10. The license shall be subjected to terms and conditions as the Central Bank deem fit. The licensee shall also be subjected to supervision and monitoring by the Central Bank.

Required Documents[edit]

  • Dully filled prescribed Application form should be attached on the application form.
  • National identification card of the applicant should be attached on the application form
  • Proof of residence (Voters card, Electricity Bill, Telephone Bill, Passport, driving license)
  • Identity proof (Permanent Account Number)should be attached on the application form
  • Passport size photograph should be attached on the application form.
  • Certified copy of the certificate of incorporation of the institution should be attached on the application form.
  • Certified copy of the Memorandum and Articles of Association of the proposed institution.
  • Certified copy of the Memorandum and Articles of Association of any corporate body that proposes to have a significant shareholding in the institution.
  • Certified copy of the latest audited financial statements for each of the three years immediately preceding the date of the application if the applicant has been operating in any sector under any name and laws or in cases where any of the shareholders is a corporate body.
  • Where the proposed significant shareholders are natural persons, certified personal statements of affairs for the past three years should be submitted

Office Locations & Contacts[edit]

Bank of Uganda - HEAD OFFICE,
Physical Address:Plot 37/45
Kampala Road
Kampala, Uganda
Postal Address: P.O Box 7120,
Kampala, Uganda
Telex: 61059
Telephone numbers: +256-414-258-441/6
Fax: + 256-41-4230878 , +256-41-4233818
Email: [email protected]
Website Link


  • You should have valid address proof and identity proof documents to open post office savings bank.
  • Any person is eligible to make an application to run a post office saving Bank in Uganda.
  • This application allows a person to operate a Post office saving Bank in Uganda.
  • In Uganda no person shall, operate a post office saving Bank in Uganda unless authorized by Bank of Uganda.


  • The License Application Fee for post office saving Bank: 1,000,000 USh Non refundable.


  • The License to transact post office saving bank is valid for one year

Documents to Use[edit]

Please attach documents that can be used by people. e.g. links

Sample Documents[edit]

Please attach sample completed documents that would help other people.

Processing Time[edit]

  • The Maximum Processing time to process this license is 6 months

Related Videos[edit]

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites. 	
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url '' Video ID is 'Y0US7oR_t3M'.


  • All applicant for financial institution to operate a post office savings bank must register with Central Bank , and be familiar with the rules relating to the Financial institution practice in Uganda.
  • A license granted under Section 12 remains in force unless revoked.
  • For issuance of a license, please submit the duly completed form, to Central Bank of Uganda
  • For purposes of application for a new license, an applicant is required first to seek approval name from the Central Bank of Uganda and thereafter will be advised on the documents to be submitted together with the duly completed form.
  • Upon satisfying all the requirements and paying the applicable licensing fees the applicant will be issued with a license.
  • All information provided shall be treated as confidential.

Required Information[edit]

  • Name of applicant
  • Head/ Main office
  • Physical and postal address of head office/ proposed new outlet
  • Date of incorporation
  • Form of incorporation
  • Description of the applicants business or functions
  • Certificate of incorporation Number
  • Details of subsidiaries and affiliates (Name of Outlet, County, City/Town, Street, Building, Date opened)
  • Particulars of shareholders (Name, Nationality, Date of acquisition, Amount of shareholding, % of shareholding)
  • Particulars of directors (Name, Nationality, Date of appointment, Level of education)
  • Particulars of the officers in the order of seniority (Name, Designation, Nationality, Date of appointment)
  • Ownership profiles
  • Shareholding in any other financial institution
  • Name of applicants external auditors
  • Declaration

Need for the Document[edit]

  • This license allows the holders to operate a post office saving Bank in Uganda.
  • A person who operates a post office saving Bank without a valid license commits an offense and shall, on conviction be liable to a fine not exceeding five hundred thousand shillings, or to imprisonment for term not exceeding three years, or to both.

Information which might help[edit]

  • The post office saving Bank shall be body corporate with perpetual succession and a common seal, with power to acquire, own, possess and dispose of property, to contract, and to sue and to be sued in its own name.
  • when the Ugandan Post Office Savings Bank (UPOSB) was established 1926 by ordinance as a department of the post office under an agency

agreement with the Ministry of Finance.

  • Eleven years later the Post Office Savings Bank Act of 1937 became the statutory basis for postal savings in Uganda for more than 60 years. As in other countries under British rule, the UPOSB's main features were:
  • post office savings passbooks, offered through 129 Ugandan post offices (only some of which had a facility for safekeeping cash);
  • deposits guaranteed by the government; and deposits reinvested under the supervision of the Ministry of Finance in gilt-edged titles

Other uses of the Document/Certificate[edit]

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links[edit]


More information which might help people.