Financial Sector Deepening Uganda (FSDU) sought to support the Regulatory Reforms Committee (RRC) to review and make recommendations to help the banking sector play its economic catalytic role more optimally. FRIENDS Consult Ltd was contracted to offer technical assistance for this and it identified key gaps and issues in a comprehensive report.  The report, resulting from 12 months of study and analysis, identified key issues for regulatory reform and made 155 concrete recommendations covering 11 thematic areas: Governance, Legal, Compliance, Credit, CRB, ICT, DFS & Agent Banking, Operations, Clearing & Settlements, Finance, and Treasury. “This report is rich, deep and will be useful for years to come” – Wilbrod Owor, Executive Direct Uganda Bankers Association.