By Michael Kanaabi Dollar
In a bid to stay ahead of the pack and keep providing their customers with value added and sustainable services, Post Bank has been enlisted for the Sustainability Standard and Certification Initiative (SSCI).
This happened at the Kampala Serena hotel recently during the launch of the Sustainable Certification Process for Financial Institutions by Bank of Uganda, Ministry of Finance (MOFPED) and the European Organisation for Sustainable Development (EOSD).
Aimed at ensuring local financial institutions become more resilient and profitable, standards embedded with local sensibilities that are holistic, evolving and robust are laid down by the partner organisations (EOSD, MOFPED, BOU) and taken up by the financial institutions with Post Bank being one of the first in the country to do so.
Under the leadership of Bank of Uganda, financial institutions that join the Sustainable Certification Process are set to be equipped so as to play an integral role in the transformation of Uganda’s Economy from a low technology, low value to a technologically advanced and high value economy according to Arshad Rab the CEO of the European Organisation for Sustainable Development.
Rab who is also the Chairman of the International Council for Sustainability Standards noted that the Sustainability Standards Certificate and Certification Initiative is the most comprehensive frame work that will make the financial sector locally and globally take the lead in building a new modern economy.
Post Bank CEO Julius Kakeeto congratulated Bank of Uganda and Housing Finance Bank for enlisting to the Sustainability Standards Certification Initiative alongside Post Bank emphasizing that the later has always been socially oriented with a focus on the environment and governance.
“ We have supported various sanitation projects, financed renewable energy undertakings with subsidized solar loans, facilitated upkeep payments to many far flung families and carried out financial literacy engagements among other initiatives” he said.
Post Bank is now embedding sustainability in it’s strategy having started with financial reporting and now enlisting for the Sustainability Standards Certification Initiative and we look forward to making the bank a sustainable financial institution certified by EOSD Kakeeto concluded.
Bank of Uganda Deputy Governor Michael Atingi Ego said the launch of the Standard Certification Process is in line with the Central Bank’s mandate to promote price stability and a sound financial system in support of socio economic transformation.
Finance Minister Matia Kasaija in his remarks applauded SSCI applicants, HFB, BOU and Post Bank for taking this strategic step and EOSD for accepting their applications. “SSCI will enable these institutions deliver higher value to the communities and stakeholders they serve” he concluded.
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