BIS central bankers’ speeches  1  •  The Bank of Uganda has proposed amendments to the Financial Institutions Act, 2004 to facilitate the introduction of Agent Banking. Agent Banking is the mechanism under which banking services are provided by a third party (the agent) on behalf of a licensed financial institution.
Because of their relatively low costs of operation, the agents are able to serve sections of the public that cannot be viably served by traditional financial institutions. Licensed financial institutions typically exploit information and communication technologies to extend their services through their agents.