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‘Banking is all about trust, integrity’
What you need to know:
- The bank’s manager Agent Banking, Mr Felix Musiimeenta said in use of agent banking system, there is affordability, financial inclusion and extended time of services compared to the bank branches and it is also a key additional revenue to the bank.
The executive director of Housing Finance Bank, Ms Peace K. Ayebazibwe said public trust and professionalism by employers are a cornerstone for lasting financial institutions and it is important for the general public, private sector for financial needs and the economy at large in the form of tax.
Speaking during the Housing Finance Bank meeting between its banking agents and URA at Golf Course Hotel on Friday, Ms Peace K. Ayebazibwe said Housing Finance Bank is a fully Ugandan local financial institution led by Ugandans with about 56 years of existence, and is purely a local Ugandan bank owned by NSSF, which has 50 percent, government of Uganda 49.2 percent and the National Housing and Construction which has 0.2 percent shares.
“Housing Finance Bank is a purpose driven bank. Banking is about trust and banking is about integrity and this bank has continued to grow,” she said.
URA’s supervisor finance, Mr Ainamaani Tearemwe said the bank remits about Shs8.8 billion in form of tax and non-tax revenue to the tax body.
This being the money paid through the bank from an average of about 3,500 transactions that is made every month.
Mr Tearemwe said the Housing Finance Bank agents ought to make sure that they complete the transactions they are handling in real time.
“You should also do record keeping of every transaction that has been made through your stall,” he advised the agents of agent banking.
The bank’s manager Agent Banking, Mr Felix Musiimeenta said in use of agent banking system, there is affordability, financial inclusion and extended time of services compared to the bank branches and it is also a key additional revenue to the bank.
According to him, following the complaint of high fee charges by the agent banking agents, Housing Finance Bank decided to reduce the fee from Shs40,000 to Shs10,000 per month to enable the agents conduct their business in a comfortable way.
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