In January 2016, the government passed the Financial Institutions (Amendment) Act, with the objective to enhance financial inclusion by making provisions for better, easier and convenient financial services for all Ugandans.

To support the Financial Institutions (Amendment) Act, the commercial banks currently operating in Uganda, through their umbrella body – Ugandan Bankers Associations, agreed to form a Shared Agent Banking System. The aim of the Shared Agent Banking System is to take banking services closer to the people while reducing operation and administrative costs.

Similar to the Mobile Money model, Agent Banking empowers commercial banks to appoint agents to provide banking services such as deposits, withdrawals and more on their behalf. Agents can be the local shopkeeper, kiosk owners, supermarket attendant or anyone in your community who has been authorized by your bank.

All Ugandans have a right to financial services. Shared Agent Banking System brings your bank right to your neighborhood, wherever you are in the country.