Goals, Objectives and Functional Priorities:
The main goal and objective of UFBMRA is to serve as the voice of all the members and its main duty is to promote healthy dialogue, disseminate information and also enforce discipline and standards among the members as well as in the forex bureau and money transfer market.
The long-term objectives of the UFBMRA are:
Among others we also have Short term-objectives;
- Enhancing market discipline, promoting market development and encouraging constructive engagement with the regulator
- Promoting professionalism in the sector with the broader goal of enhancing public image.
- Enhancing high ethical standards amongst members while fostering self-regulation
- Keeping line of engagement with the regulator alive so that market vulnerabilities or any challenges can be adequately and timely addressed
- Representing forex bureaus and advocating their interests
- To ensure soundness of the forex bureau sector
- To ensure effective representation and advocacy for forex bureaus
- To ensure prudent coordination and networking of all forex bureaus, and with the Central Bank
- To ensure efficient and effective facilitation of information and communication to members, partners and the public
- To ensure sustainable capacity building for bureaus, management and staff for efficient performance.