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.
The training, envisaged to commence in April this year and dubbed " Corporate Technical Training and Executive Education for East Africa", will provide a mix of technical and leadership skills covering topical areas such as Digital Banking, SME Lending, Problem Loan Management, Corporate Credit Analysis, AML - KYC ( International Best Practice), Client Relationship Management, Financial Analysis & Modeling, Managerial Skills in Banking & Finance, People and Soft Skills for Banking Professionals, Advanced Corporate Governance (Unique Challenges for Banking and Financial Services) and The Bank Leader of The Future.
Anthony Mulindwa, Chief Executive officer, Uganda Institute of Banking and Financial Services, told Daily Monitor on Wednesday that the partnership between the Ugandan and London banking institutes is an opportunity to enhance the industry 's skill base by delivering a combination of international best practice and local contextualization.
“Our financial services sector is rapidly growing in size and complexity and the terrain is fast changing from the point of view of technology, products and services, client expectations, the compliance and regulatory regime etc... In addition, there are still concerns around the ethical conduct of some bankers, performance of loan portfolios and the quality of client experiences, all of which point towards the need to step up the level of training and professionalism in the industry. The partnership with a The London Institute of Banking and Finance, a renowned Institute of high standing ,will no doubt make a significant contribution to this effort ,” said Mr Mulindwa.
Asked about the state of the economy and steps to speed up the pace of growth, Mulindwa noted the need for greater step wise investment in critical infrastructure and the real economy by paying attention to the critical sectors of agriculture, manufacturing, tourism and oil and gas.
Mr Alastair Tyler, International Director of the London Institute of Banking and Finance, remarked that while Uganda’s banking sector was fast growing, it was important to address the critical issue of professional standards. He reiterated the unique benefit of the programme as being the combination of international best practice coupled with local contextualization and added that the programme is regional in nature and shall include the institutes of Kenya and Tanzania as well.
“We believe that a relationship led approach is vital to building confidence and gaining a deeper understanding of our corporate customer’s training and staff and staff development needs,” he said.