louis kasekende : bank of uganda ’ s instruments to respond to inflationary pressures remarks by dr louis kasekende, deputy governor of the bank of uganda, at a dinner hosted by dfcu bank, kampala, 5 may 2011. * * * the chairman and board of directors of dfcu bank limited ; senior management of dfcu bank limited ; chief executives of various institutions ; distinguished guests ; ladies and gentlemen the profile of dfcu bank limited reveals a common transformation process that has occurred in uganda ’ s banking industry over the past 10 years ; upon acquisition of the then gold trust bank limited by dfcu limited, dfcu bank limited was licenced as a commercial bank in 2000 ; over the last three years, dfcu bank limited witnessed impressive growth in the following key performance indicators : item deposits ugx. 127. 0 bn ugx. 220. 8 bn ugx. 489. 7 bn assets ugx. 209. 4 bn ugx. 493. 5 bn ugx. 817. 0 bn ugx. 276. 9 bn ugx. 405. 0 bn ugx. 40. 9 bn ugx. 68. 9 bn ugx. 13. 6 bn ugx. 21. 1 bn loans / advs core capital ugx. 21. 7 bn net profit branches atms dfcu bank limited has all through the past period maintained full compliance with statutory requirements on capital adequacy, which is a key performance indicator ; dfcu bank limited has been able to roll - out a number of financial products, which include ; i ) savings plus foreign accounts ( diaspora ) ; ii ) women in business accounts ; iii ) access plus loans ; iv ) tax loans ; v ) contract finance ; vi ) commodity finance ; vii ) working capital loans ; viii ) internet banking ; bis central bankers ’ speeches behind this impressive performance of dfcu bank limited is the financial support in terms of short to long - term loans drawn from committed partners under the umbrella of the parent company, dfcu limited. these shareholders include ; i ) proparco ; ii ) norfund ; iii ) cdc ; iv ) fmo ; v ) eib ; vi ) kfw the above impressive performance has qualified dfcu bank limited into a major contributor in the development of uganda ’ s financial sector, with a sizeable portion

stanley fischer : challenges facing the israeli economy in the globalisation era address by professor stanley fischer, governor of the bank of israel, at the 2008 herzliya conference, herzliya, 21 january 2008. * * * the topic of this session relates to the challenges that our economy faces in the globalization era. indeed, since the early 1990s the israeli economy has undergone a successful process of integrating into the global economy, and today we are already a part – albeit a small part – of it. as part of this integration, the bank of israel headed a campaign of liberalization of capital flows and disinflation until price stability was obtained. the various governments adopted, and have been practicing to this day, an approach of budget discipline and pushed through a series of structural reforms. israel ’ s successful integration into the global economy is manifested, among other things, in rapid growth ; in exports, which reached about 45 percent of gdp ; foreign investment ; a flow of foreign investments into israel ; a high credit rating ; favorable evaluations by international financial institutions ; and an invitation from the oecd to begin the process of joining. these important achievements are contributing to the strong growth and stability of our economy. in one important field in the process of globalizing our economy, however, little has been done thus far : passing a new and modern bank of israel law. the law in effect today was passed in 1954 ; it is antiquated and does not meet the accepted norms in the advanced economies. various governments in israel and the bank of israel have done a great deal of work on the new bank of israel law. in this context, two important milestones are noteworthy : 1. in late 1998, a committee under the late justice dov levin presented the government with recommendations for a new bank of israel law. this was the aftermath of professional work based on other countries ’ efforts in this field, among other things. the members of the commission included prof. haim ben - shahar and prof. alex cukierman, and several noteworthy personalities appeared before it, including the former president of the bundesbank, hans tietmeyer ; the deputy governor of the bank of england, mervyn king ( today the governor ) ; and even myself. 2. on october 2, 2005, shortly after i took up office as governor, the government resolved to adopt the principles of the new bank of israel law in the spirit of the levin committee ’ s recommendations and developments in this field