This was during a meeting between Bank of Uganda Deputy Governor, Dr Louis Kasekende, and the Governor of the Central Bank of Sudan Hazim Abdelgadir, on Tuesday at the Bank of Uganda offices in Kampala.
Abdelgair who is part of President Omar Al Bashir’s delegation to Uganda also interacted with senior officials of Bank of Uganda.
Kasekende and Abdelgadir agreed to sign a memorandum of understanding to guide the two central banks in the various areas of cooperation such as payments systems, correspondent banking, capacity building and other avenues of facilitation of trade and investment between the two countries.
“We can exploit existing opportunities under the Common Market for Eastern and Southern Africa (COMESA) regional initiative for purposes of trade facilitation such as the COMESA Regional Payment and Settlement System (REPSS) as well as leverage the financial institutions operating in both countries to foster economic relations,” Kasekende said.
Abdelgadir expressed readiness to share Sudan’s rich experience in Islamic finance and banking in light of the recent legislation that paved way for the introduction of Islamic banking products in Uganda.