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Mystery shopping assessment of credit cost disclosures
A mystery shopping study of 1,102 visits to financial institutions in Kampala, Mbarara, and Gulu reveals significant gaps in the disclosure of the total cost of credit and interest rates in Uganda. The report finds that inexperienced borrowers and women receive substantially less information than experienced male borrowers, and that written disclosure materials, such as key facts documents, are rarely provided. Analysis of Bank of Uganda data also indicates a steady increase in the number of non-interest fees charged to borrowers since 2005.
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Document type: Report
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