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Africa > Uganda

You are looking at 1 - 4 of 4 items for :

  • Type: Journal Issue x
  • Financial regulation and supervision x
  • Financial Institutions and Services: Government Policy and Regulation x
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Cover IMF Staff Country Reports
Uganda: Technical Assistance Report-Moving Towards Risk-Based Supervision of Insurance in Uganda: Training on Supervision of Reinsurance and Assisting on an Industry Seminar on Risk-Based Supervision
International Monetary Fund. Monetary and Capital Markets Department
This Technical Assistance Report discusses the recommendations made by the IMF mission to assist Uganda in moving toward risk-based supervision of insurance sector. It highlights that under the revised insurance legislation, the Insurance Regulatory Authority of Uganda (IRA) will be requiring nonlife insurers to provide certification for adequacy of technical provisions by an actuary as is currently required for life insurers. When the requirement comes into effect, it will be necessary for it to be supported by guidance from IRA in terms of its expectations for the actuarial reports to be filed. This will ensure consistency in reporting to the IRA and that the reports will provide the information needed by the IRA for supervisory purposes.
Keywords:
ISCR; CR; reinsurance; IRA supervision manager; premium; net premium; Uganda insurance market; life insurance insurance premium; reinsurance training; staff of IRA; IRA team; industry IRA Board; Risk-based supervision; Insurance; Insurance companies; Global
Cover Departmental Papers
Financial Development in Sub-Saharan Africa: Promoting Inclusive and Sustainable Growth
Mr. Montfort Mlachila
,
Ahmat Jidoud
,
Ms. Monique Newiak
,
Bozena Radzewicz-Bak
, and
Ms. Misa Takebe
This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.
Keywords:
DPPP; DP; financial system; monetary union; market index; banking sector; return on assets; financial institution index; commodity price; return on equity; Financial sector development; Financial inclusion; Basel II; Financial sector; Sub-Saharan Africa; Africa; East Africa; Global; Asia and Pacific
Cover IMF Working Papers
Financial Intermediation Costs in Low-Income Countries: The Role of Regulatory, Institutional, and Macroeconomic Factors
Mr. Tigran Poghosyan
We analyze factors driving persistently higher financial intermediation costs in low-income countries (LICs) relative to emerging market (EMs) country comparators. Using the net interest margin as a proxy for financial intermediation costs at the bank level, we find that within LICs a substantial part of the variation in interest margins can be explained by bank-specific factors: margins tend to increase with higher riskiness of credit portfolio, lower bank capitalization, and smaller bank size. Overall, we find that concentrated market structures and lack of competition in LICs banking systems and institutional weaknesses constitute the key impediments preventing financial intermediation costs from declining. Our results provide strong evidence that policies aimed at fostering banking competition and strengthening institutional frameworks can reduce intermediation costs in LICs.
Keywords:
WP; interest margin; LICS bank; bank characteristic; dependent variable; Net Interest Margins; Banks; Low Income Countries; Emerging Economies; entry application; margin determinant; bank efficiency; intermediation service; Credit risk; Reserve requirements; Loan loss provisions; Inflation; Competition; Western Hemisphere
Cover IMF Staff Country Reports
Uganda: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, and Payment Systems
International Monetary Fund
This paper presents findings of Uganda’s Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and Payment Systems. The banking system in Uganda, which dominates the financial system, is fundamentally sound, more resilient than in the past, and currently poses no threat to macroeconomic stability. A major disruption in donor flows could, however, challenge macroeconomic stability and threaten the financial system.
Keywords:
ISCR; CR; central bank; interest rate; monetary policy; payment system; financial system; foreign exchange; banking system; banking sector; clearing house; Payment systems; Commercial banks; Financial Sector Assessment Program; Loans; Bank supervision; Africa