WorldRemit closes shop in Uganda

WorldRemit Transfer Money (U) Limited has closed business in Uganda.

WorldRemit is a fast and secure service that lets you transfer money online using a computer, smartphone, or through app using 70 different currencies, across 130 countries worldwide.

The development has been revealed on Monday 4th July, 2022 by the Bank of Uganda.

The Central Bank said in a statement that WorldRemit voluntarily ceased to carry on money remittance business in the country.

“The public is notified that the closure of WorldRemit Money Transfer (U) Limited as a company will not affect WorldRemit money remittance product offered by several supervised financial institutions in Uganda,” Bank of Uganda management said.

“Customers with outstanding claims for monies given to WorldRemit Money Transfer (U) Limited for remittance purposes should submit the claims with evidence, to the Director of Non bank Financial Institutions Department at Bank of Uganda by July 18th, 2022.”

On the other hand, Bank of Uganda assured the public that it will continue to safeguard the stability and integrity of the financial sector.

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