the experiences of the 1970s and early 1980s, which were characterized by turbulence and economic hardships, the bank of uganda nevertheless contributed significantly towards the achievement of several national economic goals, while upholding its mission of fostering price stability and a sound financial system, which you will all agree with me, have been achieved. these achievements should give a cause to celebrate. as a “ pillar of the economy ”, it is gratifying for me to note that the bank of uganda has credibly delivered on its mandate and assisted towards the maintenance of a sound economy in uganda. this, of course, has not come about without its challenges. it is now my pleasure to invite the hon. minister of finance, planning & economic development to give his remarks and later invite his excellency to officially open this exhibition to the public, launch the book by prof mutibwa, release our commemorative coin, give awards bou ’ s best staff performers and winners of the essay competition for primary schools.

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