Proposed Regulatory Reforms in the Banking Sector

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Proposed Regulatory Reforms in the Banking Sector

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FSD Uganda provided Technical Assistance to the Uganda Bankers’ Association (UBA) to produce a comprehensive document that contains recommendations for amendments in banking regulationand 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.