Deal. Mr Kevin Moore (left), the director global business development at Chartered Institute for Securities and Investment signs Memorandum of Understanding in Kampala on Tuesday. Right is Mr Anthony Mulindwa, the chief executive officer Uganda Institute of Banking and Financial Services.
Starting October 2019, Capital Markets Authority (CMA) will require industry players to have a qualification from the Chartered Institute for Securities and Investment (CISI), before they are allowed to participate in the market.
Speaking during the signing of a Memorandum of Understanding (MoU) between Uganda Institute of Banking and Financial services (UIBFS) and CISI in Kampala on Tuesday, the chief executive officer CMA, said the Authority will in April this year, announce the mandatory requirement to hold a qualification from CISI, thereafter give a grace period of 18 months to industry players to acquire it.
On 15th October 2017 and 22nd October 2017 UIBFS organized the 18th Banker's Sports Gala which attracted over 30 institutions comprised of the Central Bank (Bank of Uganda), 28 financial institutions and the Uganda Securities Exchange (USE) as a guest team.
The Annual Bankers' Sports Gala is a grand sporting, social and networking event organized by The Uganda Institute of Banking & Financial Services (UIBFS) and brings together practitioners in the Banking and Financial Services industry across the country. The sports gala comprised a combination of indoor and outdoor sports activities – including children's games.
The executive director of Private Sector Foundation Uganda (PSFU), Gideon Badagawa, has challenged bankers to educate clients on how best they can insure their businesses to enhance their sustainability.
Currently, Uganda is ranked among the top business starters but also with highest business collapsing rates. Badagawa said this is partly due to failure to insure those businesses.
“The financial services sector is very critical for private sector growth. It is also important for the growth of other sectors such as agriculture, manufacturing, energy, tourism, education and transport. However, they all lack the knowledge of insuring sustainability,” Badagawa said.
He was speaking during the seventh graduation ceremony for the Uganda Institute of Banking and Financial Services, where over 60 students graduated.
The function took place at the City Royale Hotel in Kampala. Badagawa stressed that many Ugandans, especially in business, are not taking insurance policies which works against business prosperity.