emmanuel tumusiime - mutebile : the primary dealer system in uganda remarks by mr emmanuel tumusiime - mutebile, governor of the bank of uganda, at the annual primary dealer award ceremony, kampala, 25 february 2010. * * * distinguished guests ladies and gentlemen let me take this opportunity to welcome you all to this function which is organized to recognize the best performing primary dealer in uganda government securities for the year 2009. the bank of uganda introduced the primary dealer system in february 2003. the main objectives were to : i. promote financial markets development ii. facilitate secondary market trading and market efficiency through the reduction in the costs associated with issuing government securities by and large these objectives have been achieved. the primary dealer system has contributed to the growth of the government securities market. during the year 2009, the bid cover ratio in the primary market was 2. 346 ( compared to 1. 445 in 2008 ), an indicator that there was increased demand for government securities. furthermore the primary dealers have continued to provide liquidity in the secondary market by quoting effective two - way prices in all market conditions. the turnover in the secondary market increased from 1. 555 trillion the previous year to 1. 909 trillion in 2009. this is a big achievement. however, there are still outstanding challenges. just to mention a few, volatility in the interbank rates, wide bid / ask spreads, thin trading during tight market conditions, buy and hold trading strategies and low horizontal repo trading activity among others. in order to address these challenges bou has undertaken a comprehensive review of the pd regulatory framework in order to enhance the system and to create a more competitive market environment. effective 1st september 2009, risk based approach to capital for pds was introduced. in addition, market making valuations have been reinforced whereby pds clearly indicate what is available in categories for sale, trading and held until maturity. let me also mention that bank of uganda has now embarked on the second phase of reforms which will involve introduction of non - bank pds, through a tiering system as well as underwriting provisions. consultations are ongoing and it is our expectation that in the 1st quarter of the new financial year we shall be ready to implement. furthermore, in order to enhance the above - mentioned pd reforms, bank of uganda has embarked on a process of acquiring a state of art central securities depository system, which will provide among other functionalities, e - bidding in primary auctions, automated

bank of uganda remarks by louis kasekende ( phd. ), deputy governor, bank of uganda … … … … … … … … …. at the supervisory college of standard chartered bank, africa region … … … … … … … … …. kampala ; november 10, 2016 speech by the deputy governor at the supervisory college of standard chartered bank, africa region held at the speke resort hotel munyonyo on thursday, november 10, 2016 executive director supervision, bank of uganda the prudential regulation authority officials, the host supervisors of standard chartered bank from the african region, directors and senior management of standard chartered bank from the african region, staff of the bank of uganda distinguished guests, ladies and gentlemen, bank of uganda is greatly honoured to have been given the opportunity to host this supervisory college for standard chartered bank, africa region in conjunction with the prudential regulation authority ( pra ). i warmly welcome you all to uganda, the pearl of africa. i trust that during your short stay here you will truly experience the warmth and hospitality of the ugandan people. the decision regarding the venue for this college came to fruition as a result of a deliberate and keen interest by the prudential regulation authority ( pra ) to deepen their understanding on the role played by standard chartered bank in the african economies and risks associated with the businesses. to this end, bank of uganda ( bou ) graciously accepted to host the first college when the prudential regulation authority proposed the idea of convening a supervisory college for subsidiaries of standard chartered bank in africa. i wish to highlight that standard chartered bank uganda ( scbu ) has been operating in uganda for over 100 years, having opened for business in 1912. the bank currently has eleven branches and 28 automated teller machines ( atms ) and is considered a domestic systemically important bank ( d - sib ). as at june 30, 2016, the bank commanded a market share of 11. 58 percent, 11. 42 percent and 12. 00 percent in terms of total assets, total deposits and total loans, respectively. standard chartered bank uganda has greatly contributed to uganda ’ s economy, both financially and in technological innovations in the ugandan banking sector. it is ranked amongst uganda ’ s top twenty tax payers and has won a number of awards including employer of the year 2013, best in corporate social responsibility 2014 and best consumer internet bank 2013, amongst others. as a leader in technological innovations in the