The executive director private sector foundation Uganda (PSFU) has advised graduates from the Uganda Institute of Banking and Financial Services (UIBF) to offer more financial services other than credit for the economy to grow.
Speaking during the institute’s 7th graduation ceremony recently, Mr. Gideon Badagawa said despite the vital role that credit financing plays in growing small and medium enterprises (SMEs), bankers also need to overcome other challenges that stagnate growth.
He cited lack of appreciation of insurance by SMEs, whose role is to mitigate uncertainties and risks that are dangerous to any business.
“……everyone is crying out for money. When we talk about financial services, it is not only about money. There are many other things that it constitutes like insurance and others beyond money that are vital for the private sector to thrive,” he said.
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.
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.