The significance of licensing MDIs has far reaching impact on promoting the savings culture and thereby fostering the accumulation of funds for investment purposes. Bank of Uganda therefore encourages the Council of the Institute of Bankers to initiate appropriate educational training programmes from which these new institutions can access information and expertise necessary for their future development.
Bank of Uganda on its part will continue to promote the development of MDIs through prudential regulation and supervision so that they conduct their businesses in a manner that ensures safety of depositors’ funds.