At times we have found the phenomenon to be underestimated by foreign parent banks when setting up programmes for organizing and reorganizing their Italian units. The supervision of foreign banks must reconcile the requirements of control over institutions that can have systemic importance in the national territory with the powers of the supervisory authority in the country where the parent company is established.
In keeping with this theme, I want to share with you my thoughts on what I believe are the most pressing challenges facing the financial services industry in Uganda today. These are challenges which must be confronted if the industry is to contribute fully to our efforts to transform the structure of the economy and move it towards middle income status.