EMU has contributed to the monetary stability of floating exchange countries as well. This is because these countries have also conducted stability-oriented policies aiming at low inflation and sound government finances. Two forces have contributed to this effect. Firstly, there is a size effect.
In 1994, the bank’s name was changed from Libyan Arab Uganda Bank for Foreign Trade and Development to Tropical Africa Bank Limited. In May 2006, the bank again changed its name to Tropical Bank Ltd. Your Excellency, please allow me also to point out that the bank has continued to work very closely with Bank of Uganda especially during its challenging times.