Supervision & Regulation

Central CRU Organisation (“CRO”), the Ura eco-system supervisory authority, is primarily responsible for ensuring that all participants conduct their businesses in accordance with the relevant regulations to achieve a sound, efficient, and stable financial system that serves as a facilitator for wealth creation, economic growth, and development. CRO carries out the following supervisory responsibilities: 

  1. Regulate, supervise, and direct the Ura eco-system to ensure the smooth operation of a safe and sound financial system. 
  • Enforce respect, adherence, and compliance with statutory and regulatory requirements. The laws and rules governing operations have provisions regarding licensing, withdrawal of license, and arrangement for examining and monitoring approved participants, powers, and duties, as well as protection of supervisory organization acting on behalf of CRO.
  • Protect and secure the reserve assets and depositors’ funds.
  • Ensure the solvency, good quality assets, adequate liquidity, and profitability of deposit-taking financial institutions are maintained. 
  • Ensure fair competition among participants. CRO is responsible for the prevention and redress of anti-competitive practices and the removal of constraints on the free play of competition in the Ura market.
  • Maintain an efficient payments system

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