provided you with a copy of the fatf 40 recommendations, which we think you will find useful as you discuss the merits of the proposed legislation. the anti - money laundering bill has provisions which : i ) make it a criminal offence to launder the proceeds of crime ; ii ) set out money laundering prevention measures, offences and penalties ; and iii ) provide for the seizure, freezing and forfeiture of assets related to money laundering. the bill also provides for the creation of a financial intelligence unit whose function will be to receive and analyse reports of suspicious transactions from banks and other institutions, and to disseminate the results of the analysis to the relevant authorities. there are also provisions relating to international cooperation as well as national policies and a national coordination authority for such policies, a task which is currently performed by the uganda anti - money laundering committee. this workshop will provide hon. members with the opportunity to discuss all of the provisions in the bill. to facilitate the discussion, we have invited several people with specialist expertise, including experts from malawi and the world bank, who will make presentations of different aspects of the legislation. i now wish to request the honourable minister of finance, planning and economic development to make her remarks and officially open the workshop. thank you very much for listening to me. bis central bankers ’ speeches

emmanuel tumusiime - mutebile : endorsing price stability and financial sector soundness in the ugandan economy remarks by mr emmanuel tumusiime - mutebile, governor of the bank of uganda, at the official opening of the standard chartered bank, bugolobi village mall branch, bugolobi, 12 february 2016. * * * members of the board of directors of standard chartered bank uganda, chief executive officer, regional head, retail banking for africa and middle east, senior management and staff of standard chartered bank, invited guests, ladies and gentlemen. it is an honour to be invited to officiate as guest of honour at the official opening of this new branch of standard chartered bank at the village mall in bugolobi. the wisdom behind the opening of a new stanchart branch in bugolobi is self - evident. this prime location and its immediate neighbourhood, is not only home this outstanding mall, but also hosts a number of small and medium sized enterprises. here you find a university, government departments, industrial establishments, a market, health service providers, major retailers, schools, hotels, restaurants ; not to mention the large number of residents. the bustling local economy here will thank you for bringing banking services closer. the opening of this new bank branch is a very strong endorsement of the stability of uganda ’ s financial sector. it indicates that the prospects for the sector as well as the economy as a whole remain good. indeed, only last month, standard and poor ’ s ratings services affirmed its “ b / b ” long and short term foreign and local currency sovereign credit ratings on the republic of uganda ; with a stable outlook. i am reminded of the words of alan greenspan – a former head of the central bank of the united states of america – who described “ price stability ”, in the perspective of central bankers as, “ when economic agents no longer take account of the prospective change in the general price level in their economic decision - making ”. as you are aware, in their latest press release, the uganda bureau of statistics reported that both annual and monthly inflation declined from december 2015 to january 2016. on an annual basis, overall inflation declined to 7. 6 percent in january 2016 from 8. 4 percent in the previous month. over the same period, core inflation reduced to 7. 1 percent from 7. 6 percent. similarly, overall monthly inflation declined to 0. 1 percent in january from 0. 2 percent previously. what is more