emmanuel tumusiime - mutebile : emerging issues in the banking industry remarks by mr emmanuel tumusiime - mutebile, governor of the bank of uganda, at the opening ceremony of the colloquium of judges and magistrates on “ emerging issues in the banking industry ”, mbarara, 13 august 2015. * * * my lords, the chief justice and deputy chief justice my lords, the honourable judges your worships, the magistrates the chairman and members of the uganda bankers association ( uba ) ladies and gentlemen, it is a great pleasure and honour for me to take part in this important gathering which brings together members of the uganda bankers ’ association and colleagues from the judiciary to discuss very pertinent issues on the banking and financial sector. i am very much delighted and convinced that this forum provides a unique opportunity for your lordships and worships together with the bankers to discuss and have a better understanding of emerging issues and risks in pursuit of enhancing the soundness of the financial sector. ever since uba came into being in 1981, it has continued to play an important role to articulate the interests of the banking industry in uganda by reaching out to all the key stakeholders in society, including the government, the judiciary, the parliamentarians, the business community and the general public. this forum therefore, is in line with uba ’ s strategic mission of improving knowledge on the banking sector risks and building consensus for addressing challenges and developing ideas for a better legislative environment and resolution of financial disputes which by nature are common in the banking industry. over the last decade, the banking industry globally has witnessed a significant transformation especially from the technological front. these changes have immensely reshaped the manner and speed of financial services delivery as well as a menu of products and services offered by financial services providers to customers. uganda like most other countries has not been spared by these developments owing to its interconnectedness to the broader financial system through the payment system and competitive pressures for business which has often spurred the need to innovate. at the same time, the risk profiles of business have also profoundly changed and thus, while banks continue to harness the ensuing benefits from the innovations, they must find ways of containing the array of risks associated with the developments to safeguard the integrity of the banking sector. in this address, i will attempt to highlight some of the emerging issues and risks which need to be looked into ; to ensure the stability of the financial sector. i will also briefly talk about the

deutsche bundesbank, are critical of many of the demands currently being voiced. in this context, it is a great honour for us to be able to present to you mr peter sands and professor friedrich schneider as the keynote speakers at this year ’ s conference. whereas mr sands ’ main areas of research are banks and financial markets, professor schneider has made a name for himself as an expert on the shadow economy. mr sands will kick off the conference by discussing “ the dark side of cash ". professor schneider will follow by taking a critical look at the question of whether abolishing cash is an efficient instrument in the war against the shadow economy, crime and terrorism. following these two speeches, our two keynote speakers will take part in a panel debate on the future of cash. i am already eagerly looking forward to the clash of views and opinions we will be likely to hear. even after this morning ’ s proceedings, which will already be very exciting and informative, the rest of our programme for this year ’ s conference will once again rest on a broad basis. this year, we received so many high - quality papers that we have decided to conduct the conference in two parallel sessions. this enables us to look not only at the components and motives of cash demand but also payment behaviour. in addition, cash experts will speak on restrictions on cash 1 / 2 bis central bankers'speeches payments and on the theme of our conference, the “ war on cash ". i would additionally like to welcome the delegates from austria, our guest of honour at this year ’ s conference. at this juncture, i would like to thank you for your willingness to contribute talks on trends in cash usage and on technical innovations in cash processing to our third cash conference. it is precisely in questions concerning cash usage patterns or also the motives behind the demand for cash where, in my opinion, cultural differences are especially important. this is why i am pleased once again to be able to present you with a large number of speakers from a wide array of countries. these talks on cash - related themes will be delivered by leading experts from japan, india and europe, but also the united states and canada. this international variety is a hallmark of our research conference. i don ’ t want to keep you on tenterhooks so i will now hand over to the head of the bundesbank ’ s directorate general cash management and the chair of the first session, stefan hardt. i hope we all have a fruitful conference