Kibedi made the plea during the ongoing 27 annual general meeting of the Uganda Muslim Teachers Association UMTA. The meeting at Hotel Africana in Kampala is running under the theme; Increasing our impact on Quality Education and Teachers Welfare.
Tanzanias fifth largest bank by assets, Exim Bank, has been launched in Uganda. The bank, trading as Exim Bank Uganda, was officially launched last evening by Governor of the Bank of Uganda Emmanuel Tumusiime-Mutebile at Serena Hotel in Kampala.
The high costs of operating an account and the proximity of the bank are the other reasons fronted for not owning a bank account, Dr Sarah Ssewanyana the Executive Director of EPRC says. She however notes that reduced access to formal banking was not entirely surprising.
Uganda is home to 25 commercial banks of which the top players namely Barclays Bank, Stanbic Bank and Standard Chartered Bank are foreign owned controlling 44.3percent of the total assets of all commercial banks in Uganda.