New law to require bankers to hold professional practising licence
The proposed law would make certification and training through UIBFS a prerequisite for employment or advancement in the local banking industry
KAMPALA, August 3, 2025 –– The Government of Uganda plans to table a new bill in Parliament that will require all practising bankers in the country to hold a professional practising licence.
Under the proposed legislation, the Uganda Institute of Banking and Financial Services [UIBFS] will be granted regulatory authority to oversee the professional standards and conduct of banking personnel across the country.
Speaking at a recent event in Kampala, Goretti Masadde, Chief Executive Officer of UIBFS, said the reform follows growing recognition that the current legal and regulatory framework is outdated and inadequate to meet the evolving needs of the banking profession.
“Today’s challenges are unique. The existing regulator was established 57 years ago as an examination centre and is no longer fully aligned with the demands of modern banking,” Masadde said.
“There is a critical need for regulatory reform to better manage the profession, support career progression, and improve employment opportunities within the sector.”
The proposed law would make certification and training through UIBFS a prerequisite for employment or advancement in the local banking industry. Bankers who lack the necessary qualifications could risk losing their positions or being barred from taking on new roles.
As part of broader efforts to modernise the profession, UIBFS has recently undergone a rebranding process, unveiling a new logo, vision, and mission to reflect its expanded mandate and its aim to take a leading role in shaping Uganda’s financial services landscape.
The new logo, featuring a flying crane, symbolises progress, resilience, and national identity. According to Michael Mugabi, Chairman of UIBFS, the rebrand reinforces the Institute’s longstanding commitment to elevating professional standards.
The rebranding was also praised by the Governor of the Bank of Uganda, Michael Atingi-Ego, who serves as the Institute’s patron. He expressed optimism that the changes would help transform Uganda’s banking industry into a more professional and competitive environment.
“This transformation promises to strengthen the professionalism of the industry, which is essential for national economic growth,” the Governor said.
Currently, most banking executives in Uganda are certified by the Chartered Institute of Bankers in the UK. However, the new framework will see microfinance institutions, insurance companies, and other financial service providers brought under a common professional standard administered by UIBFS.
Fabian Kasi, President of the UIBFS Governing Council and Managing Director of Centenary Bank, noted that under the new regulations, human resources departments across banks will be tasked with identifying staff who meet the required professional standards.
“Those who do not hold recognised qualifications will have to be replaced by certified professionals,” he said.
Richard Byarugaba, UIBFS Executive Director for Financial Services, highlighted the Institute’s ongoing commitment to offering dynamic, research-based training aligned with industry needs.
The proposed changes mark a significant step in the professionalisation of Uganda’s financial services industry, aimed at enhancing integrity, skills development, and long-term economic growth.
https://thecooperator.news/uba-unveils-theme-for-2025-annual-bankers-conference/
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