AGM 2022

NOTICE OF ANNUAL GENERAL MEETING

NOTICE IS HEREBY GIVEN that the Annual General Meeting (“AGM”) of the Uganda Institute of Banking and Financial Services (“the Company”) for the year ended 31 December 2021 will be held physically on Thursday 2nd June 2022 at 8:00 a.m. at Sheraton Hotel Kampala to conduct the following business:

Ordinary Business

  1. To receive, consider and if approved, adopt the Company’s Audited Financial Statements for the year ended 31 December 2021, together with the reports of the Chairman, Directors, and External Auditor thereon.
  2. To consider, and if deemed fit, approve the re-appointment of PKF Certified Public Accountants as the Company’s external auditors for the financial year 2021 and to authorize the Directors to fix their remuneration for the year ending 31 December 2021.
  3. To consider, and if deemed fit, appoint directors to replace Mr. Richard Oola and Mr. Ahmad Maher who retired from their positions as directors.

Special Business

  1. To consider and if appropriate, approve the membership restructuring proposal
  2. To conduct any other business that may be conducted at the AGM of which due notice has been given.

By Order of the Board

S&L Advocates

Company Secretary

Thursday, June 2, 2022

NOTES:

  1. Members wishing to participate in the meeting should register for the AGM by sending an email to agmregistration@uib.or.ug. For assistance, members should dial the following number: 041 4349059 or 0777865485 from 9:00 a.m. to 3:00 p.m. from Monday to Friday. In the alternative, members may send an email to membership@uib.or.ug for assistance during registration.
  2. Registration for the AGM opens on Friday 29th April 2022 at 9:00 a.m. and will close on Wednesday 1st June 2022 at 00 p.m. Members will not be able to register after this time.
  3. The following documents may be viewed on the Company’s website at uibfs.or.ug (a) a copy of this Notice and the proxy form; (b) the Company’s Annual Report & Audited Financial Statements for the year ended 31st December 2021; and (c) the profiles of all nominees for appointment.
  4. Any member who is entitled to attend and vote at the Annual General Meeting is entitled to appoint a proxy to attend and vote in his/her stead. Such proxy must be a member of the Company.
  5. A proxy form can be obtained from the Company’s website or the head office on Plot 10 Buganda Road, Kampala, or by contacting the Company Secretary by email at info@sladvocates.ug. Proxy forms should be completed and returned to the Company Secretary by email or alternatively to the Registered Office of the Company so as to arrive no later than Wednesday 1st June 2022 at 3:00 p.m.
  6. Duly signed proxy forms may be emailed to info@sladvocates.ug in PDF format or delivered to the Company’s Registered Office. A proxy form must be signed by the appointor or his/her attorney duly authorized in writing. If the appointer is a body corporate, the instrument appointing the proxy shall be given under the Company’s common seal or under the hand of an officer or duly authorized attorney of such body corporate.
  7. Members wishing to raise any questions or clarifications regarding any matter for discussion at the AGM may do so on or before Wednesday 1st June 2022 at 3:00 p.m. by: (a) sending their written questions by email to info@sladvocates.ug (b) asking their questions on the chat feature that on the Company’s website; (c) calling+256 777865485; or (d) to the extent possible, physically delivering or posting their written questions with a return physical, postal or email address to the Registered Office of the Company at the address above. Members must provide their full details (full names and membership constituency) when submitting their questions or clarifications.

A full list of all questions received, and the answers thereto will be published on the Company’s website, www.uibfs.or.ug not later than 12 hours before the start of the AGM.

 

                  THE UGANDA INSTITUTE OF BANKING AND FINANCIAL SERVICES

ANNUAL GENERAL MEETING (AGM) PROGRAMME ON THURSDAY, 2nd JUNE 2022 AT SHERATON HOTEL, KAMPALA

AGM PROGRAM

8.00 am – 8.30 am: Arrival of Invited Guests and breakfast

8.30 am – 8.35 am: Opening Prayer and National Anthem

8.35am – 8.40am: Ascertainment of Quorum, Registration of Proxies & Apologies

8.40 am – 9.00 am: Welcome Remarks by the Board Chairman / Presentation of

Board Report;

9.00 am – 9.10am: Confirmation of Minutes of Previous Meeting and Matters Arising

9.10 am – 9.30am: Presentation of 2021 Audited Accounts and Auditor’s Report

9.30 am – 9.40am: Appointment of External Auditors for the year 2022

9.40 am – 9.50 am: Appointment of Board Members

9.50 am – 10.00am: Approval of Membership restructuring Proposal

10.00am – 10.10am    : Remarks by the Council President

10.10am – 10.20am    : Remarks by the Patron

10.20 am – 10.30 am: Closing prayer, Group Photo, and End.

N.B: In the event of failure to attend, members are hereby requested to forward their proxies to the Institute’s Head Office at plot 10 Buganda Rd, at least 48 hours from the time of the meeting.

BY ORDER OF THE BOARD

PROXY FORM

THE UGANDA INSTITUTE OF BANKING AND FINANCIAL SERVICES

I/We*, _____________________________________, of mobile number ___________________ and of P.O. Box _________________________________Email address           ___________________being a member of Uganda Institute of Banking and Financial Services in the constituency of Honorary Fellows / Fellows / Associates / Corporate Member / Ordinary Member / Student Member / Life Member*, hereby appoint _____________________________________, of mobile number ___________________ and of P.O. Box _________________________________   Email address           ___________________ as my/our* proxy to vote for me/us* and on my/our* behalf on any matter properly before the Annual General Meeting (AGM) of the Company to be held on  Friday 27th May 2022 at 8:00 a.m or at any adjournment thereof.

Dated this                                                  day of                                                            2022

Signature     : _____________________________

Name in full : _____________________________

Constituency: _____________________________

NOTES:

1.     If a member is not able to attend this meeting personally, this proxy form should be completed and returned to the Company Secretary by email at  sebalulule@sebalulule.co.ug or alternatively to the Registered Office of the Company on Plot 10 Buganda Road, Kampala, not later than Thursday 26 May 2022 at 5:00 p.m. and in default the instrument of proxy shall be invalid.

2.     In the case of a corporation, the proxy must be under its common seal or under the hand of the officer or attorney duly authorized on that behalf.

3.     A proxy appointed by a member to attend and vote in his/her/its stead must be a member of the Uganda Institute of Banking and Financial Services. Unless otherwise instructed, the proxy will vote as he/she thinks fit.

4.   An asterisk (*) appears at the end of statements that provide multiple options. Please strike out whichever option is inapplicable.

SL – UIBFS – PROXY FORM – 2022 AGM

18th May 2022

The Board of Directors                                                                       

The Uganda Institute of Banking and Financial Services

Plot 10 Buganda Road

KAMPALA

Dear Sirs/ Madam,

NOMINEE TO REPLACE MR. RICHARD OOLA-OJWIYA AS ASSOCIATE MEMBER REPRESENTING THE REST OF THE MEMBERS OF THE INSTITUTE

Following Mr. Richard Oola-Ojwiya’s resignation from the Board in 2021, there was a need to replace him on the board. The Company Secretary is required to provide nominees to fill his position on the board.

As company secretary of the Uganda Institute of Banking and Financial Services, we have obtained nominees who expressed interest in the position and satisfy the Institute’s eligibility requirements.

The eligibility criteria for nomination as a candidate for the position is that they:

  1. must be an Associate Member of the Institute;
  2. must be paid Up Member for the last 3 years;
  3. must possess at least 3 years of work experience in the Banking and Financial Services Industry.

On 11th May 2022, the Institute conducted online elections and a total of 8 votes were cast. Mugoya Susan had 50% votes cast in her favor while Martin Kizza Kalanda had 37.5% votes cast in his favor.

We hereby attach their profiles for your consideration.

If you have any questions concerning this document, please contact the engagement partner Alice Nalwoga at nalwoga@sladvocates.ug.

Yours faithfully,

S&L ADVOCATES

NOMINEES FOR THE POSITION OF REPRESENTATIVE OF ASSOCIATE MEMBER REPRESENTING THE REST OF THE MEMBERS OF THE INSTITUTE

MUGOYA SUSANNE

Name: Ms. Mugoya Susanne

Membership No:  UIB/CPB/2013/84

Current Title & Company: Operations Risk Lead in the Risk and Compliance Dept, Letshego Uganda                                                  

Current Location: Kampala, Uganda

Overview of Nominee’s Suitability

Susanne currently works at Letshego Uganda as Operations Risk Lead in the Risk and Compliance Dept. She possesses a Certified Professional Banker certification from UIBFS  and has over 15 years of working experience in the Microfinance sector and 6 years of these in Risk and Compliance.

She possesses a BA Arts Degree from Makerere University and currently pursuing a Master of Arts Degree in Financial Services at Makerere University and a Certification in Risk Management Assurance at the Institute of Internal Auditors

She has been an Associate Member of the Institute since 2018.

No votes obtained- 4 out of 8

MARTIN KIZZA KALANDA

Name: Mr. Martin Kizza Kalanda  

Membership No:  UK0409

Current Title & Company: CEO, Pambana Financial Services Limited                                                                    

Current Location: Kampala, Uganda

Overview of Nominee’s Suitability

Martin is the CEO of Pambana Financial Services Ltd a Digital Payment Fintech company as well as provides consultancy in financial services to banks and individuals.

Formally worked as Executive Director at Top Finance Bank where he was in charge of Business Development, Credit, IT, Risk, and Operations where he managed to create visibility for this enhanced his professionalism and industry expertise.

Martin is a member of the Institute of Corporate Governance of Uganda and a Member of the Chartered Institute of Marketing UK and the Uganda Marketers Society.

Martin holds an MBA (Marketing) from Uganda Martyrs University, Nkozi, a Professional Post-Graduate Diploma in Marketing (CIM-UK), a Professional Diploma in Banking (UIBFS),

Bachelors of Commerce (Banking and Finance) from Pune University (India) and he holds professional memberships at the Uganda Institute of Banking and Financial Services and the Institute of Corporate Governance of Uganda

He has been an Associate Member of the Institute since 2018

No votes obtained- 3 out of 8

9th March 2022

The Board of Directors                                                                       

The Uganda Institute of Banking and Financial Services

Plot 10 Buganda Road

KAMPALA

Dear Sirs/ Madam,

NOMINEE TO REPLACE MR. AHMAD MAHER AS REPRESENTATIVE OF BANKS

Following Mr. Ahmad Maher’s resignation from Cairo Bank Uganda Limited in December 2021, there was a need to replace him on the board. The Company Secretary is required to provide nominees to fill his position on the board.

As company secretary of the Uganda Institute of Banking and Financial Services, we have obtained a nominee and hereby attach her profile for your consideration.

If you have any questions concerning this document, please contact the engagement partner Alice Nalwoga at nalwoga@sladvocates.ug.

Yours faithfully,

S&L ADVOCATE

NOMINEES FOR THE POSITION OF REPRESENTATIVE OF THE BANKS

SYLVIA JAGWE OWACHI

Name: Sylvia Jagwe Owachi

Current Title & Company: Ag. CEO- Cairo Bank Uganda Limited                                                                    

Current Location: Kampala, Uganda

Nationality: Ugandan

Package: Open to negotiationdiately

Overview of Nominee’s Suitability

Sylvia Jagwe Owachi serves as the Chief Executive Officer in acting capacity, at Cairo Bank Uganda Limited which position she took with effect from 1 January 2022.

Before her current assignment, she was the Executive Director at Cairo Bank Uganda Limited, from July 2021 until December 2021.

THE UGANDA INSTITUTE OF BANKING AND FINANCIAL SERVICES

MINUTES OF THE ANNUAL GENERAL MEETING

 HELD AT SHERATON HOTEL

ON FRIDAY 28TH MAY 2021.

PRESENT:

The attendance list is provided under Schedule I to the minutes.

RECORD OF ATTENDANCE:

A record of attendance of members at the Annual General Meeting is provided under Schedule I to the minutes.

IN ATTENDANCE:

  1. Ms. Edith Komujuni- representing M/S S&L Advocates, Company Secretary.
  2. Mr. Frederick Kibbedi – representing PKF Uganda Certified Accountants, the External Auditors.

ADOPTED AGENDA:

  1. Welcome remarks and opening prayer
  2. Ascertainment of quorum, registration of proxies and apologies
  3. Welcome Remarks by the Board Chairman and
  4. Presentation of the Board Report
  5. Confirmation of Minutes of Previous Meeting and Matters Arising
  6. Presentation of Accounts and Auditor’s Report
  7. Appointment/ election of board & council members
  8. Remarks by council president
  9. Remarks by the patron
  10. Closing prayer

DELIBERATIONS

MINUTE DISCUSSION AND RESOLUTION LED BY
 

MIN 1/05/21

 

 

 

 

WELCOME REMARKS AND OPENING PRAYER

Ms. Goretti Masadde
 

MIN 2/05/21

 

 

 

ASCERTAINMENT OF QUORUM, REGISTRATION OF APOLOGIES

Confirmation of quorum was led by Ms. Edith Komujuni of S&L Advocates. Upon establishing that the required minimum number of paid-up members were in attendance, quorum for the meeting was duly constituted in accordance with Clause 35(a) of the Articles of Association of The Uganda Institute of Banking and Financial Services.

Ms. Edith Komujuni
 

MIN 3/05/21

MIN 4/05/21

 

 

 

 

WELCOME REMARKS BY THE BOARD CHAIRMAN AND PRESENTATION OF THE BOARD REPORT

The Chairman Board of Directors, Mr. Michael Mugabi welcomed those in attendance to the meeting and proceeded to present the Board Report.

A copy of his welcome remarks and the Board Report is attached under Schedule II to the minutes.

Mr. Michael Mugabi
 

MIN 5/05/21

 

 

 

 

 

 

 

 

CONFIRMATION OF MINUTES OF PREVIOUS MEETINGS AND MATTERS ARISING

Members were led through the minutes of the previous Annual General Meeting by Ms. Edith Komujuni with no amendment to the minutes.

The minutes of the meeting held on 17th June 2020 were adopted.

Ms. Edith Komujuni
 

MIN 6/05/21

 

 

 

PRESENTATION OF ACCOUNTS AND AUDITOR’S REPORT

The Institute’s audited accounts were presented by the Institute’s Audit and Risk committee.

EXTERNAL AUDITOR’S OPINION:

The External Auditor, M/S PKF Uganda, confirmed that the accounts as presented were a true representation of the performance of the Institute during the year 2020.

Mr. Frederick Kibbedi further informed members that their role as External Auditors was to express an opinion on the financial statements of the Institute as prepared by Management, in accordance with International Financial Reporting Standards (IFRS).

The External Auditor informed members that the audit evidence availed to them by management had been sufficient and appropriate to form a professional opinion to the effect that proper books of accounts had been kept by the Institute.

The External Auditor informed members that the financial position as prepared fairly represented the true financial position of the Institute as at 31 December 2020 and that the financial statements had been prepared in accordance with both the IFRS and the Companies Act, 2012.

The accounts for the year ended 31st December 2020 were received and adopted by the members.

Mr. George Ochom

Mr. Frederick Kibbedi

 

MIN 6/05/21

 

 

APPOINTMENT OF EXTERNAL AUDITORS FOR THE YEAR 2021

This agenda item was led by the Audit and Risk committee of the Board.

M/S PFK, Certified Public Accountants were appointed as the Institute’s External Auditors for the year 2021.

Mr. George Ochom
 

MIN 7/05/21

 

 

 

 

 

 

 

 

APPOINTMENT AND RE-ELECTION OF A DIRECTOR

This agenda item was led by Edith Komujuni

 

The meeting considered and, deemed it fit, to approve the appointment of Mr, Michael Jjingo following the retirement of Dr. Louis Kasekende in accordance with the provisions of the Company’s Articles of Association.

Ms. Edith Komujuni
 

MIN 7/05/21

 

APPOINTMENT / ELECTION OF COUNCIL MEMBERS

 

This agenda item was led by Ms. Edith Komujuni.

 

The meeting considered and approved the appointment of Ms. Veronica Namagembe to the Institute’s Council.

Ms. Edith Komujuni
 

MIN 8/05/21

 

 

REMARKS BY THE COUNCIL PRESIDENT

 

Mr. Fabian Kasi welcomed members to the 2021 Annual General Meeting of the Institute.

A copy of his welcome remarks is attached under Schedule III to the minutes.

Mr. Fabian Kasi
 

MIN 9/05/21

 

 

REMARKS BY THE PATRON

Dr. Manzi Tumubweine, the Executive Director, Supervision, Bank of Uganda represented the Patron, Prof. Emmanuel Tumusiime Mutebile, Governor Bank of Uganda.

Dr. Manzi, delivered apologies from the Governor and the patrons remarks.  In his remarks, the patron thanked the Council and Board of Directors for their services to the Institute. He also thanked the Institute’s management for promoting professionalism in the Financial Services Industry. He emphasized the importance of professional standards in the banking industry and encouraged the Institute to increase the utilisation of e-learning as a tool for human capital development.

Dr. Manzi Tumubweine
 

MIN 10/05/21

 

CLOSING

There being no other business, the meeting was ended.

 

 

I CERTIFY THAT THIS IS A TRUE RECORD OF THE MINUTES OF THE ANNUAL GENERAL MEETING OF THE UGANDA INSTITUTE OF BANKING & FINANCIAL SERVICES THAT TOOK PLACE ON 28 MAY 2021.

__________________                                                    __________________

Chairman                                                                    Secretary

SCHEDULE I

 

ANNUAL GENERAL MEETING ATTENDANCE LIST

 

PHYSICAL ATTENDANCE

 

NO. NAME ORGANIZATION
BOARD MEMBERS
Michael Mugabi Housing Finance Bank (Board Chair)
George Ochom DFCU Bank
Ahmed Maher Cairo Bank
Wilbrod Owor Uganda Bankers Association
Simon Kirubi Equity Bank
REPRESENTING BANK OF UGANDA
Dr. Manzi Tumuboine Representing Patron
MINISTRY OF FINANCE REPRESENTATIVE
Timothy Musinguzi Karugaba Ministry of Finance and Planning
BANK CHIEF EXECUTIVE OFFICERS
1. Annette Kihuguru Econbank
Katy Sempala Turinawe Orient Bank (MD Representative)
Ray Kamar Meena Bank of Baroda
Henry Lugemwa Exim Bank
FELLOWS
Gustor Kayinja Bank of Uganda
GRADUANTS
Jullius Nuwamanya Post Bank
Geoffrey Ssemwanga Bukenya Mogo Loans SMC
Stella Nassuna UIBFS
Sylivia Owembabazi UIBFS
William Moses Atamba UIBFS
Topyster Nabwire Post Bank
Daina Pamela Amony Bank of Uganda
Proscovia Aromo UIBFS
Musirimu Bakutta UIBFS
Peter Lubangakene UIBFS
Beatrice Lalam UIBFS
David Mulanda UIBFS
Beatrice Nongom UIBFS
Immaculate Namwanje Centenary Bank
Fred Kasorogo Centenary Bank
Rose Nakalema UIBFS
Monic Kawuma UIBFS
Beni Mpunduyimana UIBFS
Stellah Nanvamba UIBFS
Christine Nanyonjo UIBFS
Anne Nuwagaba UIBFS
Scovia Tumukunde UIBFS
Eunice Alum UIBFS
Maria Nakibirango MSC
Mariam Kobusingye Aplus Associates
Bonnie Ogwang UIBFS
Sophie Jjemba Opportunity Bank
Barnard Lukwiya UIBFS
Anna Mary Sanyu UIBFS
Kassim Kasawuli UIBFS
Grace Chemutai UIBFS
Doreen Turyamurewa UIBFS
Candy Nyakeishiki UIBFS
Cate Nakintu UIBFS
Sandra Mugyema UIBFS
Patience Batusi UIBFS
Zamulah Nakuya UIBFS
Angellar Aryaitwongyera UIBFS
STAFF MEMBERS
Goretti Masadde UIBFS (CEO)
Semakula Richard UIBFS
Walusimbi John UIBFS
Ronald Mugwanya UIBFS
Semakula Sulaiman UIBFS
Daina Nayiga UIBFS
Alex Byaruhanga UIBFS
Mudasiru Tamuzade UIBFS
David Masinde UIBFS
Patricia Amado UIBFS
Benjamin Opulot UIBFS
Apollo Engwau UIBFS
COMPANY SECRETARIES (S&L)
Edith Komujuni S & L Advocates
TOTAL ATTENDANCE
BOARD MEMBERS 5
BANK OF UGANDA 1
MOFEP REP 1
BANK CHIEF EXECUTIVE OFFICERS 4
FELLOWS 1
COMPANY SECRETARIES 1
OTHERS (GRADUATES AND STAFF) 50
TOTAL  63

SCHEDULE II

CHAIRMAN’S REMARKS AND BOARD REPORT

CHAIRMAN’S REMARKS

Dear Patron Prof Emmanuel Tumusiime – Mutebile represented by the Executive Director Supervision Dr. Manzi Tumubweine, Council Members here present, Fellows, Associates, Ordinary and Student Members, Friends of the Institute, all protocol observed.

I welcome you all to the 2021 Annual General Meeting of the Uganda Institute of Banking & Financial Services. I take this opportunity to thank our Patron for his presence at this occasion and for the support rendered to the Institute as it executes its mandate of promoting professionalism and inclusion in the financial services industry.

I wish to recognize Chief Executives of Member Institutions and colleagues from the industry here present and online and thank them for their contribution to the Institute.

I recognise and express special gratitude to the Board of Directors for its dedicated service to the Institute.

I thank the members of the Institute for your patronage and contribution to the Institute.

I extend my gratitude to our development partners, our Legal Counsel, External Auditors and indeed all our service providers for their contribution to the progress of the Institute.

Last but not least, I thank our trainers and staff of the Institute for their dedicated service towards the progress of the Institute.

Thank you all

BOARD REPORT

  1. Scientific AGM

When COVID 19 started in December 2019, the magnitude and duration of its effects were unimaginable. More than one year later, its disruption continues. In 2020 we changed our byelaws to provide for virtual meetings especially under the current circumstances. COVID 19 still continues to be a big risk with a surge in new infections and deaths and therefore our choice to meet virtually is important.

  1. Scientific and combined Graduation

Today we take the privilege of combining our AGM with the 2021 Graduation of 78 students that undertook Professional and Academic courses with the Institute. These graduands include 20 students sponsored by the Rwanda Bankers’ Association who are logged in online. Under normal circumstances the graduation is a jubilant event shared by the graduands and their families. However due to the COVID-19 SOPs, family members have been limited to online presence. The AGM and graduation events have traditionally been combined but were later separated in order to ensure that special focus is given to each event. This year we have reintroduced the combined format in cognizance of the prevailing circumstances that require leveraging of resources. It should be noted that students are part of membership and having them completes us.

 

  1. Status of the Institute

Despite the current disruption, the Institute has remained resilient through leveraging technology and partnerships. We have continued to deliver programs virtually and where warranted, face to face. This notwithstanding, the financial resilience of the organization needs strengthening as is demonstrated in the detailed financial report. With the rapidly changing environment, the importance of professionalism, reskilling and retooling and the role of the Institute in this space cannot be overemphasized. The Institute, in constant consultation with the industry, is developing appropriate programs to meet the needs that come with these changes. Our duty as members is to embrace these initiatives and work with the management to ensure sustainability.

  1. GOVERNANCE MATTERS
  • The Board:

Following the AGM held on 17th June 2020, the Board is constituted of 10 members as below:

Representing the interest of Banks:

  1. Michael Mugabi, MD Housing Finance Bank (Board Chairman W.E.F 21st May 2021)
  2. Samuel Kirubi, CEO/MDEquity Bank (Board Vice Chairman)
  3. Ahmad Maher, MD Cairo Bank Uganda
  4. Wilbrod Humphreys Owor, ED Uganda Bankers Association

Representing the interest of Micro Deposit Taking Institutions (MDIs):

  1. MShafi Namboobi, MD UGAFODE.

 

Representing the interest of Fellows& Honorary Fellows:

  1. Louis Kasekende (FUIB), Board Chairman until 31st March 2021
  2. George Ochom (FUIB), General Manager of dfcu Bank

Representing the interest of Credit Institutions

  1. Paul Senyomo, M/D Mercantile Credit Bank.

Representing the interest of the Central Bank:

  1. Ms Charity Mugumya

Representing the interest of the rest of the members of the Institute:

  1. Richard Oola Ojwiya, (AUIB), Manager Credit & Portfolio Management, Uganda Development Bank.

Ex Officio Member:

Ms. Goretti Masadde Chief Executive Officer

  • Board & Committee meetings:

In 2020, the Board convened four (4) times and maintained three (3) committees namely; Audit & Risk, Finance & Human Resources, and Education & Membership. Each of the Board committees met at least three (3) times in the period. On behalf of the Board of Directors, I wish reaffirm our commitment to serve the Institute to the best level possible.

  • Change of Board Members / Vacant Positions

There were no changes to the board in 2020 however in the early part of 2021 the Board Chairman Dr. Louis Kasekende was appointed Executive Director Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) in Zimbabwe and subsequently resigned from the Board. This left a vacant slot for a fellow on the board vacant which is to be filled at this meeting.

  • The Council:

After the last AGM, the Institute Council consisted of 14 members as follows:

  • Representing Banks (6/10)
    • Fabian Kasi, MD Centenary Bank
    • Mr.Anthony Ndegwa, MD NCBA Bank, Member
    • Anne Nakawunde (CEO Uganda Finance Trust)
    • Mr Jesse Timbwa, MD ABC Capital Bank Ltd, Member
    • Mr Edgar Byamah, Ag MD KCB Bank Uganda Ltd, Member
    • Tineyi Mawocha, CEO Opportunity Bank Uganda Limited
    • Sanusi Lekan (MD Guaranty Trust Bank Uganda
  • Representing Fellows & Honorary Fellows (3/4):
    • Mr Henry Kibirige (FUIB, Hon), Member
    • Mr Paul Jembrace Erongot (FCIB), Member
    • Mr Guster Kayinja (FUIB), Member
  • Representing Credit Institutions (1)
    • Julius Kakeeto, MD Post Bank, Member (President)
  • Representing Microfinance Deposit Taking Institutions (1)
    • James Onyutta, MD FINCA Uganda, Member
  • Representing the Central Bank (1)
    • Mary Katarikawe, ED Operations – BOU, Deputy President
  • Associate Member representing the rest of the Members
    • Abraham Titre (AUIB), Member
  • Ex Officio
    • Dr Louis Kasekende, Board Chairman
    • Goretti Masadde, Chief Executive Officer
  • Vacant positions on the Council

There is One (01) vacant position for fellows and honorary fellows. A nomination has been received and is to be presented to this AGM.

  1. FINANCIAL PERFORMANCE

The Institute registered a 30% decline in revenue in 2020 as compared to 2019. During the period UGX 1.5Bn was realised down from UGX 2.1Bn realised in 2019. Overall, the Institute registered a deficit of UGX 205,498 compared to deficit position of UGX 119mn in 2019. This was due to the significant reduction in revenue brought due to the COVID 19 disruption on training activities throughout the year.

  1. TRAINING ACTIVITIES

The education sector suffered a great set back due to the COVID 19 movement restrictions. During the period there was a ban on training activity for the months of March to June as part of COVID 19 infection preventive measures and Standard Operating Procedures (SOPs). At the time the Institute quickly adopted virtual learning using the already established E- learning platform. However this required continuous orientation and training of both students and trainers on using the system. In addition there was need to garner buy-in from both ends. To facilitate the process a survey was conducted among students to establish willingness and ability to engage in e-learning. On the trainer, side contracts were reviewed to include use of e-learning instruction model as a prerequisite. Overall, the Institute registered reasonable success in the shift to virtual learning although some students insisted on the preference for face to face in person learning and hence deferred their learning.

Apart from the challenges around the learning delivery model, most companies cut back on training throughout the year. This further affected the training activities of the Institute.

  1. Student Enrolment and Performance

The Institute provides of training programs that include Professional, Academic, Specialized and Short Skills in the areas of banking, finance and IT/computer as well as soft skills. All programs are conducted following the strategic plan.

Total enrolment for Institute courses during 2020 stood at 1,817, representing a declinein absolute terms of 927 (or 34%) compared with 2019 that had 2,744 enrolments.

Of these 1,670 (or 92%) enrolled on short skills courses and 147 (or 8%) on professional and post graduate programmes.

  1. Short & Specialized Skills Course Conducted

These courses are categorized as Tailor-Made to specific/ individual financial Institutions, Open Programs involving participants from several institutions at the same time, Specialized Courses and IT/Computer Courses. Altogether 36 courses were conducted with 1,670 participants. The table below shows the courses that were conducted, the Financial Institutions that participated and the number of participants

Table 1: Training Conducted In 2020
Institution Course No. of Participants
ABC Bank – 1 ACI Dealers Certificate 1
Absa Bank – 12 Credit Risk Assessment & Management 11
Basic Banking 1
Bank of Africa – 1 ACI Dealers Certificate 1
Bank of India – 3 Credit Analysis & Monitoring 1
Trade Finance 1
International Introduction to Securities 1
Bank of Uganda – 1 ACI Dealers Certificate 1
Cairo Bank Uganda – 164 participants Basic Banking 34
Branch Operations Management 11
Credit Analysis & Risk Management in Corporate 15
Digital Banking 30
Effective Selling, Marketing & Productivity Skills 22
Leadership in Crisis 28
Credit Analysis & Monitoring 10
Treasury Management 2
Trade Finance 10
Payment System 2
Centenary Bank – 108 Advanced Sales Management 6
Assessment Exercise for Asst. Branch Managers 102
DFCU Bank – 2 ACI Dealers Certificate 2
DTB Bank – 14 Bank Branch Management 7
Treasury Management 2
Credit Underwriting 4
Procurement and Contracts Management 1
Equity Bank – 4 Assets and Liability Management 4
Equity Stock Brokers – 1 International Introduction to Securities 1
Exim Bank – 5 Anti-Money Laundering 2
Trade Finance 3
Housing Finance Bank – 91 Debt Management & Distress handling 13
Incremental Housing Loan 30
Regulatory Frameworks, Reporting &Policy  Compliance 8
Supervisory Skills Development 40
NCBA Bank – 2 ACI Dealers Certificate 2
Opportunity Bank – 2 Credit Analysis & Monitoring 2
Post bank – 125 Basic Banking 125
Pride Microfinance – 769 Effective Selling, Marketing & Productivity Skills 769
Stanbic Bank – 1 ACI Dealers Certificate 1
UGAFODE – 5 Delinquency Management & Loan Monitoring 5
Glotrans Financial Services -9 Credit Analysis & Risk Assessment 9
Jesuit Refugee Services – 206 Basic Business Management Entrepreneurship Skills 206
Makerere University – 100 Fundamental of Financial Services CISI 100
Open Programs – 32 Basic Banking Online-blended 4
Computer Courses 28
Rural Finance Initiatives – 3 Cash Management 3
Uganda Securities Exchange  – 4 Effective Selling, Marketing & Productivity Skills 4
Usalama SACCO – 1 Cash Management 1
Vision Fund – 2 Risk Assessment & Management in a distractive era 1
Risk, Fraud, Forgeries & Internal Control 1
URA – 2 Date Management & Recovery 2
Total Budget 1670
  1. Professional and Graduate Studies

Professional programs included the Chartered Banker, the premier program. Others included Certified Credit Management, Banking Certificate and Diploma in Microfinance. Graduate programs included Master of Arts in Financial Services (MAFS) and PGD in Agricultural Risk Management & Finance (PGD ARMF)

A total of 147 students were enrolled in 2020, however due to the effect of COVID-19, only 91 students were able to study and sit their examination in February 2021. The rest requested to have their studies extended to the following year due to financial and online training related challenges.

Table 2: Professional and Graduate Training Conducted In 2020

Programs Enrolled Completed / Examined
1 Banking Certificate 5 0
2 Certified Credit Management 18 16
3 Chartered Banker 34 10
4 Certified Professional Banker 35 21
5 Diploma in Microfinance 7 04
6 PGD Agric Risk Management 20 11
7 MAFS 28 29
147 91

*MAFs had a retake student hence 29 examined

  1. Examination Performance 2020

The table below indicate the performance for the year 2020 for Professional Courses and trend of performance for the last 5 years. The pass rate for Certified Professional Banker course were 88%; Diploma in Microfinance were 94%; Certified Credit Management were 91% and Chartered banker were 61%. The average pass rate on professional programs was 83.5%, a slight decline when compared to 2019 which was 88%.

Table 3: Summary of Trend of Performance from 2015 To 2020 Academic Years

Programmes                                                             Semesters and Pass Rates
May 2015 Nov 2015 May

2016

Nov 2016 May

2017

Nov

2017

May

2018

Nov

2018

May

2019

Nov

2019

Nov

2020

Banking Certificate 81% 76% 94% 70% 88% 72% 84% 71% 92& 80%
Certified Professional Banker 80% 80% 85% 77% 88% 89% 87% 88% 89% 89% 88%
Diploma in Microfinance 97% 92% 85% 96% 93% 97% 96% 100% 100% 100% 94%
Certified Credit Management 100% 94% 93% 92% 86% 88% 88% 82% 97% 91% 91%
Chartered Banker 71% 76% 61%
Average 90% 86% 89% 84% 89% 87% 89% 85% 89% 88% 84%

 

The Institute continued to offer the M.A. in Financial Services in affiliation with Makerere University. In 2020, 29 students of different academic years registered and sat for exams.

Results for MAFS released by Makerere University indicated 98% pass rate with 10 students graduating on 19th May 2021.

Results for PGD Agricultural risk Management and Finance offered under the auspices of Mountain of the Moon University were yet to be released.

  1. Other Key Activities carried out in 2020

Merging of the Certified Professional Banker Program and Chartered banker

NCHE advised management to merge the Certified Professional Banker and Chartered banker. This was intended to enrich Chartered banker program to the equivalent of a Bachelor’s degree, the same way, ACCA and CPA.

Submission of UIBFS Professional Programs to NCHE for Accreditation

All Professional Programs of the Institute were accredited by NCHE on 30th September 2020. These included Certified Credit Management, Diploma in Microfinance, Banking Certificate and the Chartered Banker which was equated to the level of a Bachelor’s degree. All programs of duration of 9 months and above are accredited by NCHE every 5 years.

Approval of UIBFS Application for Open Distance E-Learning (ODel) System

As guided by National Council for Higher Education (NCHE) UIBFS submitted an application to roll out Open Distance E-learning (ODEL). The areas of evaluation included among others; existence of COVID-19  Standard Operating Procedures; structure & details of the ODeL Model; list of accredited Courses; list of qualified Staff; evidence of student engagement and buy in by  students; strategy to cover content missed during the lock down; approval by the Institute’s organs; principles & guidelines of how ODel would run; access and usage by students; mainstreaming of disability & gender; pre-training carried out; evaluation mechanism to be used; learning support mechanism, communication mechanism;  evidence of ODel Capability; evidence of internal assurance measures; budget; capacity to mitigate cyber risk; action plan indicating how teaching will be carried out and assurance that relevant laws &regulations will be complied with.

NCHE conducted a physical inspection and on 30th September 2020 granted the Institute permission to pursue online training. The Institute scored 74% with the following areas recommended for improvement; developing the capacity to conduct final assessment by (i) ensuring that all students have accessed to stable internet connectivity and (ii) the students’ computers fitted with facial recognition and monitoring software to check on examination malpractice. NCHE further recommended that in the meantime, the Institute should allow a reasonable number of students to physically participate in examinations on UIBFS campus in a phased/timetabled manner, while observing SOPs.

Orientation and Organisation of the Academic Board (Senate)

The Senate established under the University and other Tertiary Institution Act 2001, was orientated on 19th August 2020. The senate constituted itself in three subcommittees, that is, Quality Assurance; Research, Consultancy& Innovation and Examinations& Awards. These are to help the body execute its mandate of handling technical matters and advising the Board on matters relating to teaching/training, programme development, research, consultancy and related activities; governance of the Institute by linking the Institute’s Board, Management and the broader Financial Services Sector and provision of additional in- house guarantees of quality assurance.

Exemption & Credit Transfer policy

On 8th October 2020,the Senate consideredand recommended the Exemption & Credit Transfer policy to the Board. The policy takes into consideration student past experience, ongoing study and /or qualifications from other professional bodies and academic institutions. The rationale being to optimise student resources as they pursue qualifications at UIBFS while maintaining quality.

New Programs Developments

In 2020, the Institute introduced and reviewed 26 training programs in partnership with various individuals and organisations. These programs were mainly in the area of digital aspects of banking, leadership in crisis environments, fintechs and associated regulation and other technical banking areas.A mini prospectus was developed and shared with the industry.

Partnerships and Activities in other Jurisdictions

The Institute continues to maintain collaborations with renowned entities to offer a range of programs to the industry. These include:  The Chartered Institute of Securities & Investment for the conduct of programs in the area of capital markets operations; ACI- FMA for the conduct of Treasury related & Financial Markets programs as well as being a Local Testing Centre for these courses ; The Frankfurt School of Finance & Management for the conduct of specialised courses in areas such as SME, Digital and Climate Finance as well being as a Local Testing Centre for these courses;The London Institute of Banking & Finance (formerly the Chartered Institute of Bankers) whose professional programs have been mapped against those of the Institute and continue to attract up to 50% in exemptions.

MEMBERSHIP ACTIVITIES

The Membership activities serve to promote membership growth in numbers and the practice and profession of banking. The activities include provision of relevant and timely information to members, creating awareness of Institute’s products, recruiting and retaining members, organizing membership events such as Webinars, public lectures, Annual Bankers’ Sports gala, Annual General Meetings and Bankers’ conferences as well as provision of library services and financial sector information to members and key stakeholders

 

Membership Categories

The Institute Membership falls into 2 broad categories:

Corporate Members

  • At the close of 2020, the Institute had 33 Corporate Members
1. ABC Capital Bank (U) Ltd 17. KCB Bank Uganda Ltd
2. Bank of Africa (U) Ltd 18. Opportunity Bank (U) Ltd
3. Bank of India (U) Ltd 19. Orient Bank Ltd
4. Barclays Bank (U) Ltd 20. Stanbic Bank (U) Ltd
5. Bank of Baroda(U) Ltd 21. Standard Chartered Bank (U) Ltd
6. Cairo Bank Uganda  Ltd 22 Exim Bank (U) Ltd
7. Centenary Bank Ltd 23. Tropical Bank Ltd
8. NCBA Bank Uganda Ltd 24. United Bank for Africa (U) Ltd
9. Citibank (U) Ltd 25. Uganda Development Bank
10. DFCU Bank  Ltd 26. East African Development Bank
11. Post Bank Ltd 27. FINCA Uganda Ltd
12. Ecobank (U) Ltd 28. Pride Microfinance Ltd
13. Equity Bank (U) Ltd 29. Ugafode Microfinance Ltd
14. Finance Trust Bank Ltd 30. Mercantile Credit Bank Ltd
15. Guaranty Trust Bank(U) Ltd 31. Diamond Trust Bank (U) Ltd
16. Housing Finance Bank  Ltd 32. Brac Uganda Bank Ltd
33 EFC Uganda

Individual membership

By the end of 2019 the institute had an active database of over 900 assumed however these were not paid up and therefore not members in good standing. In 2020 this membership position was cleaned up closing with a paid up Individual Membership as below :

  • Honorary Fellows – 14
  • Fellows – 18
  • Associates – 22
  • Ordinary Members – 65
  • Student Members – 50
  • Total – 159

Membership Activities undertaken in 2020

Introduction of Online Webinars

During the year, the Institute introduced and successfully organized several general Webinars under several topics such as one on  “Financial Inclusion in the Era of Disruption, Achieving Sustainable Growth in June, “E-Learning,  A gateway to Professionalization and Human Capital Development in the Financial services industry”  in July and   “Use of Data, Artificial Intelligence, Business Intelligence in Financial Services”  in October 2021. These Webinars attracted total attendance of over 600 individual participants some attending repeatedly.

UIBFS Annual General Meeting – 2020

The Institute successfully held her first Virtual / Online Annual General Meeting (AGM) for the year ended 31st December 2019 on Friday, 17th July 2020. It was a hybrid event where the Board / Council members and a few selected guest met physically at Kampala Sheraton Hotel while the rest of the members followed the AGM proceedings via a live stream on Zoom and Facebook.

Banking and Financial Services Awareness month – 2020

In line with the mandate of promoting financial inclusion, the Institute developed an Annual Banking and Financial Services Awareness Month Concept which was approved by the Board.  The first ever Banking and Financial Services Awareness Month was held between 10th Nov – 11th  Dec 2020 under the main theme Your moneycan, be money smart. (Ssenteyoesobola).The theme was aimed at empowering citizens to manage their own money wisely and the core message were the seven pillars of financial literacy according to Bank of Uganda’s curriculum namely Personal Financial management Savings, Loan management, Investment, Insurance, Planning for old age, Financial services providers.

The targeted audience was the general public (youths, Adults and Senior Citizens) including current and prospective employees in banking and financial services.A total of 22 Banks / institutions directly participated in the 2020 Banking and Financial services Awareness month as indicated below:

Strategic Partners:Bank of Uganda , Uganda Bankers Association,  Financial Sector Deepening Uganda (FSDU), Financial Technology Services Providers Association ( FITSPA), Uganda Insurers Association Summit Consulting Ltd

Sponsors: Bank of Africa Uganda  who was the Platinum Sponsor. Other Sponsors included Eco Bank Uganda , Equity Bank Uganda, KCB Bank Uganda, ABSA Bank Uganda, Housing Finance Bank, Centenary Bank EFC Uganda, Finca Uganda, Pride Microfinance, UGAFODE Microfinance, Stanbic Bank, Opportunity Bank Uganda, Bank of Baroda, Bank of India Uganda, Brac Uganda Bank,  and DTB

The Awareness Month Campaign was executed through the following means:

  • 30 Live Webinars events on Zoom.
  • Live social media broadcast of events on Facebook.
  • Tweeting key messages of the campaign on Tweeter.
  • Web portal yourmoneycan.or.ug
  • Physical events such as the campaign launch, Digital Financial literacy Summit.
  • Interviews with the media.
  • Talk shows on radio and TV
  • Adverts on radio and in print media

Key Highlight and Achievements of the Month:

  1. Information dissemination around financial literacy:Through this campaign, we were able to reach these numbers:

Digital

  • 1523 people tuned in to our live webinar events.
  • 1,101 unique visits, 1,886 number of visits, 28,942 pages and 121,974 hits on the MoneyCan portal
  • 1,033 posts were generated on Tweeter on the day of the campaign launch reaching 433, 366 people and 934,673 impressions.
  • UIBFS content published on Facebook during the Awareness Month hit 770, 843 posts, reaching 114,320 people and 1,212, 732 impressions.

Mass media

  • 5 Radio stations for 4 weeks reaching over 1,000,000 listeners
  • Adverts and coverage in the two leading Daily Newspapers
  • Digital Billboards 3 major city entry points for 4 weeks targeting in traffic audience
  1. Behaviour change aspirations; the many presentations that were made by various panellists incited people to wish to change their money habits:
  2. Generated Excitement and debate on the topic of financial literacy.Right from the beginning at the launch, people were eager to learn about financial literacy:

Digital Financial Literacy Summit held on 04 December 2020 at Imperial Royale Hotel, Kampala:

Summit Theme: Delivering inclusive financial services using technology:  Security /Safety, Efficiency, Client centricity”. The Chief Guest at the Summit was Dr Mackey Aoum, Head of Payments Bank of Uganda

The summit had 5 speakers from Financial Technology Service Providers Association (FITSPA) talking about Financial technology services, their current uptake; trends including awareness levels, security, safety, efficiency and client centricity of Digital Channels. We also had speakers from Centenary Bank, KCB, ABSA and HFB talking about the Digital Banking Journey, Innovations, Products and Services in their respective banks.

Approval and Official launch of New UIBFS Membership Program on 11th December 2020

UIBFS revised its membership structure to provide professional support through training, staged advancement and Continuous Professional Development (CPDs) to enable her members develop the knowledge, skills and competence required of today’s banking and finance professionals. The New Structure was approved at the 2020 AGM and the official launch ceremony was held on Friday 11th December 2020at Sheraton Kampala Hotel presided over by the Executive Director, Uganda Bankers Association Mr.Wilbrod Owor who represented the UIBFS Board Chairman. The function was also graced by representatives from UIBFS Key strategic partners such as FSDU, Uganda Insurers Association (UIA), FITSPA and Banks.

Financial Services Magazine & Monthly Newsletters (The Bank Scene)

We published two Edition of the Financial services magazine, 09th edition under the Theme, “Technology, a Key Driver in the Financial Services Industry in June 2020 and 10th Edition  under the Theme: “Business Continuity and Adaptation amid the COVID-19 Pandemic’ released in December 2021

Release of UIBFS Monthly Newsletters (The Bank Scene) was done throughout the year and monthly online copies circulated to all members and key stakeholders.

Differed activities

During the year a number of activities were not carried out due to COVID 19. These included

  • The 21st Edition of the Annual Bankers Sports Gala organised in partnership with the UBA. Plans are underway to ensure that this initiatives takes place this year 2021.
  • The 20thEast African Banking School a regional knowledge forum and invaluable source of cross border industry experience was to be hosted by Kenya Institute of Banking but was differed. This event is hosted annually on a rotational basis.
  • Conferring of accolades by the institute was deferred to this year following the establishment of the new membership Program. This is due to take place this year 2021.

REGIONAL, CONTINENTAL AND GLOBAL ENGAGEMENTS

The Institute continued to engage regionally, continentally and globally. Below are some of the developments in this area.

East African Banking Certification Program (EABCP) in regards to curriculum development and approval

On 12th -16th October 2 officials from UIBFS alongside 2 from the Bank of Uganda Human Resource Department represented Uganda on a virtual meeting organised by The Monetary Affairs-Human Resources sub-Committee of Central banks of member states; members of the Technical Working Group (TWG) and Curriculum Experts on Development of the East African Banking Certification Program (EABCP). During the meeting, the Draft curriculum, Governance structure and Rules and Regulations of the EABCP were reviewed and finally recommended to the Monetary Affairs Committee (MAC) for final adoption with a request that the EAC Secretariat and Partner States mobilize the necessary resources to support the various institutions that will implement the EAC Banking Certification Program.

The Alliance of Africa Institutes of Banking (AAIOB)

The Institute holds a Deputy Chair role on the AAIOB Executive. In 2020 the AAIOB had scheduled a conference hosted by the Egypt Banking Institute but this was deferred due to COVID. Plans are underway to have this hosted virtually in October 2021 under the theme. This notwithstanding the institutes under this umbrella continued to support each other including participation and speaking at each other’s events. On this front The CEO Goretti Masadde spoke as a panelist at the Kenya Institute of Banking organised webinar on Managing Banks in a Post COVID-19 World alongside other regional and global speakers. At the same time The CEO of the Chartered Institutes of Banking Nigeria and Ghana spoke at the UIBFS membership Launch Program. A lot of collaboration continues to happen in various initiatives.

Global Banking Educations Standard Board

The Institute continues to be an active participant in theGlobal Banking Education Standards Board (GBEStB) and World Conference of Banking Institutes (WCBI), In 2020 the GBEStB organised several webinars at which challenges and strategies of delivering our mandate online and in a disruptive environment were discussed. In addition the Board shared standards’ for the development of a Green Finance curriculum which UIBFS with partners will use to develop a program going forward.

Implementation of the Strategic Plan 2018 – 2023

The institute continues to make progress in the implementation of its strategic plan under the 4 key pillars. Below is an account of 2020 achievements, the delivery of some of which continue in 2021

  • Strengthening Organizational Effectiveness and Visibility;
    • Enhanced digital presence and engagements in the promotion of the institute’s programs as well as on key days
    • Enhancement of the online self-service student and member management system that includes online payments is underway
    • Further review and revamping of the human resource organization is underway
    • Enhanced utilization of the e-learning platform by both students and trainers. In 2020 we achieved average utilization of over 90% by both trainers and students
  • Enhancing Stakeholder Outreach, Engagement, and Collaboration;
    • Continuous engagement with the industry captains to obtain and utilize insights shared in the institute’s programs
    • Consultations with UBA workstreams to obtain continuing professional development needs to result in a multi-discipline program that is currently ongoing
    • Constant pursuit and realization of partnerships to develop training programs and new approaches to training are ongoing
  • Improving Relevance in the Financial Services Industry;
    • The introduction of the Annual Banking and Financial Services Awareness month to promote financial inclusion
    • Responsive and insight-based programming customized to the needs of our clients, especially institutional members.
    • A balance of practical and theory training approaches has been embraced
  • Advancing Ethics and Professionalism in the Financial Services Sector.
    • The enhancement and accreditation of the Chartered Banker Program to the level of a degree program and /or any other international professional program in the country and the reaccreditation of all professional programs by NCHE
    • The introduction and implementation of the new membership program including mandatory CPDs in ethics

GRATITUDE

On behalf of the Board, I express my sincere gratitude to the Patron, members, and management that continue to be active in the matters of the institute and to all those that have attended this AGM. I look forward to your continued support of our Institute.

Thank you and God bless you.

Michael Mugabi

Board Chairman

SCHEDULE III

COUNCIL PRESIDENT’S REMARKS

WELCOME NOTE

  • The Patron of the Institute [represented by Executive Director Supervision BOU, Dr. Tumubweine Twinemanzi
  • Council and Board Members present;
  • Members of the Institute;
  • Fellow Heads of Financial Institutions;
  • Colleagues in the industry;
  • Our very special graduands
  • Our guests online
  • All protocols observed

I greet you all in all on this auspicious occasion of the 2020 AGM and 9th Graduation Ceremony of the Uganda Institute of Banking and Financial Services. In a special way thank our Patron for gracing the occasion with his presence.

I wish to congratulate the institute for continuing to deliver on its mandate of professionalizing the industry even under the existing extraneous circumstances brought on by COVID 19, especially to institutions such as this one.

Congratulations to the grandaunts

In a very special way, I congratulate the students turned graduates for committing to skilling and reskilling themselves through continuous study even under the difficult prevailing circumstances. It is true that COVID 19 brought constraints on financial and time resources which must have posed a challenge to you. With limited resources comes the challenge of paying fees with curfew comes the challenge of studying in alternative ways including embracing new ways of learning in this case online. I commend you for having focused on the goal of accomplishing your various qualifications.

Changing needs of the industry

As an industry, we continue to face the challenge of quality professional human capital across ranks. It is important to note that the industry has exponentially grown in size offer, delivery platforms, and players over the years and is currently rapidly changing to include core and noncore banking services which aim to satisfy the changing needs of customers. The convergence of finance and technology has to date posed the greatest opportunity and challenge, especially regarding human capital. This trend has resulted in a need for well-balanced talent. This kind of environment calls for the agility of our human resources and of the institute to be able to have in place programs that support the shift. At this point, I would like to commend the institute for adapting to the change in online learning and instruction as well as seeking collaborations to offer digital and soft skills learning programs as a response.

Chartered Banker Program

In line with the developments, I congratulate the industry through UIBFS for obtaining a professional qualification accredited by National Council for higher education as an equivalent to any internationally recognized professional qualification. For a long, we have had some professionals like accountants be identified with a single qualification but not bankers. With the accreditation of the Chartered Banker Program, bankers have an opportunity to distinguish themselves as solid professionals. To this end, we expect to have a young crop of students go through this program as well as agile existing bankers so that we can quickly as an industry derive benefits from true bankers of the day.

Continuity of the Institute

As a council, our role lies in ensuring that due recognition is accorded to professionals and practitioners that distinguish themselves through qualification, experience, and contribution. Starting this year we shall do so following the new membership program that includes a robust Continuous professional development program which we congratulate the institute for having successfully introduced. Our other roles lie in ensuring the institute thrives to achieve its vision of being a center of excellence in financial services training and delivering on research and consultancy on emerging industry issues. To this end, we commit to mobilizing the industry players and international partners to work with the institute to realize this vision.

Concluding Remarks

I wish to conclude by reiterating that this is a time of volatility that we need to face with similar gusto if we are to realize the goals of the institute, the organizations we represent, and ourselves as individuals. The future as is the saying is in our hands.

As I conclude, I once again congratulate the grandaunts upon completion of your studies and urge you to be brand ambassadors of the institute in the industry.

I appreciate the Council members and the Institute who gave me this opportunity to serve as the Council President and hope for the best.

Lastly, I wish to thank our patron and indeed all of you all for making time to attend the AGM and graduation for your show of support to the Institute.

I wish you good luck in all your endeavors

Fabian Kasi

Council President

UIBFS MEMBERSHIP STRUCTURE AMENDMENT PROPOSAL

 

UIBFS MEMBERSHIP STRUCTURE AMENDMENT PROPOSAL

 

1.0   Introduction

A new UIBFS membership structure and policy was approved during the Institute’s AGM held on July 17, 2020, that was meant to accommodate all bank and financial services industry staff at all levels. In its current design, the program requires one to enroll and advance through the three levels of the Chartered Banker Program in order to attain professional recognition from the category of Affiliate Professional to Fellow of the Institute.  In this form, the program does not take into account the knowledge, skills, experience, and expertise gained by current senior bankers including through varied learning routes.

2.0 Rationale

Feedback received indicates that the current requirement limits acceptance within a large part of the industry and in addition will take too long to build the critical mass required to form a formidable professional community.

There is a need therefore to revise the structure to cater to banking and financial services staff at senior management to the EXCO level including EDs and CEOs. Therefore one new membership Category/level i.e. Honorary Member has been proposed to accept senior managers while the Honorary Fellow has been expanded to include EDs and CEOs. These proposed categories will undertake continuous learning and/or share knowledge to sustain their membership status as stipulated in the table below.

The Board that sat on May 12, 2022, reviewed and recommended this proposal for approval and adoption at the AGM.

(c)Current Membership  Structure   and Proposed  Changes:

Membership Level / Category Requirements / Qualification Criteria Annual Membership Subscription (Fees)
Student

(A-level school leavers, University Students, Bank or Financial Institutions employees)

Anyone studying a professional or academic qualification at the Institute. UGX 100,000/=
Affiliate

(Junior staff – Entry or any Career Level)

•     Employee or anyone interested in the Banking and Financial Services Industry

•     OR Former student of a non-professional course

•     required to take and pass the Online Basic Banking Course

•     •          Required to take 20 CPDs annually

UGX 200,000/=
Affiliate Professional

(Junior staff – Entry at Officer level)

•     Graduate of Chartered Banker level 1

•     OR graduate of UIBFS Diploma in Microfinance

•     Required to take 25 CPDs annually

UGX 200,000/=
Certificated Professional

(Middle-Level Management)

•     Must have completed some certified modules of Chartered Banker level 2

•     OR Graduate of Professional courses at the Institute e.g. Banking Certificate, CPB, Certified Credit Management and Banking certificate

•     OR Has attained any of the following Academic programs, MA in Financial Services, PGD in Agric Risk and Management

•     OR any post Graduate training in Finance Management related field.

•     Required to take 30 CPDs annually

UGX 250,000/=
Associate 

(Middle-Level Management)

•     Must be a graduate of Chartered Banker Level 2

•     with at least 3 years of banking and financial services work experience

•     Required to take 35 CPDs annually

UGX 250,000/=
Member

(Bank and Financial Institutions Heads of Departments, EXCO & Senior Management)

 

 

 

•     Is a graduate of Chartered Banker level 3 with at least 5 years of banking & financial services work experience

•     OR Is a graduate of Chartered Banker By Experience 1-year program; designed for experienced Professionals at EXCO or Senior Management level with 10 years industry experience; 5 of which at Senior level

•     OR  is a graduate of Chartered Banker Expert Level 12 week program; designed for experienced Professionals at EXCO or Senior Management level with 10 years of industry experience; 5 of which at the Senior level

•     Required to take 35 CPDs annually

UGX 300,000/=
 

 

Honorary Member ( New category)

Proposed Criteria

Bank and Financial Institutions Senior managers/ Heads of  Departments / EXCO

Possession of 10 years of experience in a specific field

Continuous learning through relevant short skilled  courses  at the Institute or any other recognized training institution (30-hours minimum) including a Banking/ Finance Ethics Course OR

Required to take 35 CPDs annually

UGX 350,000
Fellow

(Bank / Financial Institutions Board of Directors, EXCO and EDs, CEOs / MDs)

•     Is a Fellow having completed the certified professional Banker Program and distinguished himself in the practice and profession of banking under the earlier membership program

OR

·        Has attained Chartered Banker qualification with at least 10 years of banking and financial services experience

•     Has made a significant contribution to the sector

•     Should be Nominated by 2 Fellows, elected by the UIBFS Council

·        Required to take 35 CPDs annually.

UGX 400,000/=
Honorary Fellow  (Old)

 

Current Criteria:

•     Person of distinct learning and made a significant contribution to the Banking and financial services industry.

•     Should be nominated by 2 UIBFS fellows and elected by the Council

•     No CPDs required

Proposed Addition Entry Route            

Financial Institutions Board Members, Bank Executive Directors and Bank CEOs / MDs.

Nominated by the UBA or 2 UIBFS Fellows and elected by  the Council

Required to take 20 CPDs (hrs)  or undertake knowledge sharing  through facilitating the CPD program, contributing in publications, research, structured coaching, and mentoring

UGX 500,000/=

UGX 500,000/=

2022-05-31T12:45:16+03:00

New Courses

Contact Info

Plot 10 Buganda Road, P.O Box 4986, Kampala, Uganda

Phone: (+256) 414-233628

Fax: (+256) 414-234259

Web: UIBFS

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