Firstly, as an economist, understanding how the economy works and proposing ways of improving it, through structural reform, is almost a raison d'être. Then, as a central banker, along with my colleagues in the ECB Governing Council, I put out a reminder of the need for structural reform each month, in the explanation of our monetary policy decisions.
This MOU formalises the relationship between the two regulators on matters regarding the approval, regulation and supervision of mobile money services in Uganda. The Bank of Uganda also recognises the potential for technological innovation to contribute positively to financial inclusion. Thus “Financial Innovation” is one of the four focus areas under the Bank’s Financial Inclusion Project.