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:
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
Among others we also have Short term-objectives;
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.
