The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Michael Mugabi, the Managing Director of Housing Finance Bank and Board Chairman of the Uganda Institute of Banking & Financial Services (UIBFS), has encouraged financial service providers to adopt technological innovations like digital banking, mobile money, and fintech solutions to boost efficiency, lower costs, and improve customer experiences.
Mugabi made these remarks at the 21st East African Banking School Conference held in Kampala, organized by UIBFS in collaboration with the Kenya Institute of Bankers and the Tanzania Institute of Bankers. The conference was themed “The Role of Financial Services in Building Sustainable Regional Economies.”
He also emphasized the importance of regulatory compliance for financial service providers.
“Keeping abreast of regulatory changes ensures compliance and helps avoid penalties while allowing financial service providers to adapt proactively to new regulations,” Mugabi stated.
He further noted that customer expectations are constantly evolving due to global and local influences. Banks that stay ahead of these trends can better meet customer needs, leading to higher satisfaction and loyalty.
Mugabi highlighted that hosting the conference in Uganda underscores the country’s progress in becoming a hub for financial thought leadership, knowledge, and innovation, and facilitates discussions that will shape the future of banking in the region.
Twinemanzi Tumubweine, the Executive Director of Bank Supervision at the Bank of Uganda, underscored the significance of ethics in banking.
“As a sector that deals in trust, maintaining integrity through honesty, responsibility, and intentional thinking is crucial,” Tumubweine remarked.
The conference brought together banking and financial service professionals from across East Africa and beyond to discuss the latest trends, challenges, and opportunities in the industry.
Additionally, it served as a platform for networking, knowledge exchange, and professional development, addressing topics such as Ethics and Integrity in the banking sector, Environment Social and Governance (ESG), and financing opportunities in the Oil and Gas sector.
Over the years, the EABS conference has promoted collaboration, shared insights on various topics, and supported the growth and sustainability of the financial services sector in East Africa.
