Thursday, 10 May 2018 00:54

Bank of Uganda says agency banking will deepen financial inclusion

Even with an estimated 14 Million out of Uganda’s 38m population remaining unbanked, a record 9.2 Million adults have the option of traveling for more than an hour to access a commercial bank.

Bank of Uganda, reacting on a new report “a sector-wide assessment of the opportunities presented by the Enactment of the financial institutions act 2016,” says that Agency Banking could reduce on the burden by the public on reaching commercial banks.

Bank of Uganda’s Director for Communications, Christine Alupo, reveals that approval of the Agency Banking Guidelines, which will allow for alternative avenues in banking services has now reached an advanced stage.

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