Banking Sector Regulatory Reform
Primary Target Groups: All
Tools of impact: Technical Assistance
Achievements: Comprehensive review of banking sector regulations, recomemndations and proposed framework to implement changes [insert link to report]
FSD Uganda provided Technical Assistance to the Uganda Bankers’ Association (UBA) to produce a comprehensive document that contains recommendations for amendments in banking regulation, and a framework for implementing the proposed changes. The review covered 11 thematic areas including Governance, Legal, Compliance, Credit, Credit Reference Bureau, Information & Communications Technology (ICT), Digital Financial Services (DFS) and Agent Banking, Operations, Clearing & Settlements, Finance and Treasury.
The document was handed over to the Bank of Uganda on Friday 15th October 2021. It comes at a time when there are significant economic and technological changes happening locally and across the globe. The recommendations are aimed at harnessing these changes to promote greater financial inclusion in Uganda.