emmanuel tumusiime - mutebile : expanding financial access and financial inclusion in uganda speech by mr emmanuel tumusiime - mutebile, governor of the bank of uganda, at the official opening of bank of baroda ( u ) ltd ’ s new branch, entebbe, 2 june 2012. * * * the global chairman and managing director of bank of baroda, the board of directors, bank of baroda ( u ) ltd, management and staff of bank of baroda ( u ) ltd, distinguished customers, invited guests in your respective capacities, ladies and gentlemen, it gives me great pleasure this morning to preside over the official opening of the entebbe branch of bank of baroda ( uganda ) ltd. i would like to begin by congratulating the bank of baroda for its foresight in extending its branch network outside of kampala, a move which bears testimony to the fact that our economic growth is geographically broad based. with the opening of this new branch in entebbe and another which will open in kabale next week, bank of baroda will expand its network to 13 branches countrywide. bank of baroda began its operations in uganda almost 60 years ago, in 1953. it has demonstrated its attachment to uganda through good times and bad, and in doing so has built up a reputation for serving the needs of customers with dedication and reliability. the opening of new bank branches, especially in the towns and cities outside kampala, makes an important contribution to the goal of expanding financial access and financial inclusion in this country. it brings banking services closer to the people, reduces transactions costs for ordinary customers and enhances competition in the banking industry. as our economy develops and per capita incomes increase, demand for financial services from both the corporate sector and the general public is growing rapidly, as is demand for new types of financial products. the expansion of bank of baroda ’ s branch network will strengthen the bank ’ s capacity to meet this growing demand for financial services. the decision of bank of baroda to open a branch in entebbe also bears testimony to the very bright prospects for business and commerce in the town. entebbe and its environs already play an important role in the tourism and horticultural industries. both of these industries are at the forefront of uganda ’ s efforts to modernize and diversify its economy, through the production of higher value goods and services which can compete on international markets. to be competitive on global markets

emmanuel tumusiime - mutebile : the progress made on the introduction of islamic banking in uganda speech by prof emmanuel tumusiime - mutebile, governor of the bank of uganda, on the occasion of eid - el - fitri celebrations at bank of uganda western gardens, kampala, 17 september 2010. * * * your eminence the mufti of uganda, the rt. hon. ali kirunda kivejinja, third deputy prime minister / minister of internal affairs, hon ministers, honorable members of parliament, his worship the mayor of kampala, chief executives of commercial banks, bank of uganda senior management, distinguished guests, ladies and gentlemen, asalaam aleikum, eid mubarak, eid mubarak, eid mubarak! it gives me great pleasure to welcome you to this auspicious occasion when we mark the end of the holy month of ramadan and to celebrate eid - el - fitri. let me take this opportunity to congratulate our muslim brothers and sisters for having been steadfast in committing themselves to fulfilling one of the five pillars of islam by fasting during the holy month of ramadan ; i pray that allah accepts it. i urge all the muslims who observed the fasting to maintain this noble act of worship. the virtues of fasting should be upheld throughout your daily life both at work and elsewhere. at the bank of uganda, we believe that god plays a role in everything we do in executing the bank ’ s mandate “ to fostering price stability and a sound financial system ”. that is why we adopted the culture of starting all our meetings with a prayer led by staff from different religions and denominations to seek god ’ s guidance. we uphold the freedom of worship and no staff is constrained because of religious affiliation or creed and endeavor to accord equal opportunities to all. in this regard the bank hosts the christian community to the christmas thanksgiving we host the muslims to the eid celebrations. let me once again assure you that the bank is committed to hold this eid - el - fitri celebrations every year. allow me to appraise you on the progress made on the introduction of islamic banking in uganda which a number of local and foreign banks have expressed interest. ladies and gentlemen, islamic banking is a system of banking or banking activity which is consistent with the principles of islamic law ( shari ’ ah ). an islamic financial institution ( ifi ) is therefore