The overall objective of the Financial Inclusion Project is to increase access to financial services and empower the users of financial services to make rational decisions in their personal finances so as to contribute to economic growth. The project will run for an initial period of three (3) years 2012-2015.
The project is built upon four pillars:
- Pillar 1: Financial Literacy
- Pillar 2: Financial Consumer Protection
- Pillar 3: Financial Innovations
- Pillar 4: Financial Services Data and Measurement
Each project pillar has a designated Sub-Committee which handles the direct implementation of the planned activities. The Sub-Committees are drawn from relevant Functions and Departments across BOU and from GIZ.
The activities of the Sub-Committees are overseen by the Financial Inclusion Apex Committee which is charged with leading the BOU’s efforts on financial inclusion, providing effective governance and coordination for the Financial Inclusion Project within BOU, monitoring progress and reporting to BOU Senior Management.
Bank of Uganda has taken a national approach in the implementation of the Financial Inclusion Project, recognising the efforts of the range of organizations – in the private and public sector, Government and development partners – who have been involved in promoting financial inclusion in Uganda over many years. The Financial Inclusion Project aims to build on these efforts – in collaboration with a broad range of stakeholders, as well as seeking to facilitate the engagement of additional players – to advance the overall goal of financial inclusion.