The Uganda Banker’s Association (UBA) is expecting to issue the code of good banking practice.
Fabian Kasi, the UBA chairman said, “this code will guide all banks on practice intended to guide clients as they go about any transactions.”
“The banks will play a pivotal role in fighting fraud which financial institutions continue grappling with.” He said.
Emmanuel Kikon, the UBA Director said, “the code will also be amended to fit in the current objectives and missions of UBA. I call upon all member banks to continue strengthening partnership to help counter challenges facing the banking industry.”
“We want to enable banks to help their customers understand how their accounts operate and give them a good understanding of banking service. We also want to promote confidence in the integrity and security of the banking system.” he said.
The code of good practice will help to eliminate the unethical practices within and outside the banking industry and will act as the watch dog on money laundering practices.