The Uganda Institute of Banking and Financial Services (UIBFS) becomes ACCREDITED Testing Centre for The ACI SUITE OF ONLINE EXAMINATIONS

The Financial Markets Association (ACI) provides a suite of specialized examinations in the areas of foreign exchange, fixed income, money markets, derivatives, repos, asset liability and risk management for front, middle and back-office staff.

Partnership between Uganda and London Banking Institutes to boost professionalism in Uganda 

In a bid to boost professionalism in the Ugandan banking and financial services sector, the Uganda Institute of Banking and Financial Services and the London Institute of Banking and Finance (formerly known as the Chartered Institute of Bankers and later IFS School of Finance) have entered a partnership by which they will offer training to practitioners in the banking industry in the broad area of banking and finance.

Bank of Uganda (BOU) is concerned that much as the banking sector has posted impressive growth in the aggregate bank lending, loans towards the traded goods sector accounted for the smallest fraction, despite the sector being a key driver for economic development.

BOU governor Tumusiime  Mutebile said the banking industry had achieved dramatic increase in the intermediation of funds, the extent to which banks convert deposits into loans to the corporate and household sectors. “At the end of 2000, commercial banks credit to the private sector was only 6% of GDP and banks only lent out 54% of their deposits base to the sector, but by the end of last year, it had risen to 80% and private sector credit to share of GDP had risen to 15%, meaning the private sector has risen fivefold in real terms since 2000,” he said.

The governor, however, noted that most of the lending is extended to the non-traded goods sectors of the economy, especially trade, construction, telecommunications and the household sectors.