Who is Involved
The role of Bank of Uganda (BOU) is to spearhead the implementation and further development of the Strategy – not to attempt to do everything itself. In particular, its role is to provide focus, momentum and effective coordination; and to ensure that the Strategy is implemented – and also that it is kept under review, so that it can be modified as necessary. BOU is taking steps to avoid both duplication and unplanned gaps. It consults and communicates with – and, where necessary, seeks to persuade – partners and other key organisations (e.g. relevant government departments). It also encourages others to promote the case for financial literacy initiatives and seeks out opportunities to bring in new partners.BOU has established two bodies to assist it in carrying out its leadership role:
- The Financial Literacy Advisory Group (FLAG), which advises BOU on the implementation and further development of the Strategy for Financial Literacy in Uganda. It comprises senior and influential decision-makers from key sectors (including Government, the banking sector, the insurance sector, MFIs, employers, educationalists, NGOs, the media and development partners). Members of the advisory group serve in an individual capacity, rather than as delegates from their sector – though they are encouraged to discuss issues with others in their sector, so that they can feed back views at FLAG meetings (see full list of members); and
- The Financial Literacy Information Sharing Group (FLISG), which comprises a wide range of stakeholders and other partners. It provides a forum for the broad community of stakeholders and partners to discuss developments and potential developments, to highlight examples of good practices from which others can learn useful lessons and to provide feedback (see full list of organisations). For materials from the last FLISG meeting, please click here.
Who is Involved 2.