Uganda's regulatory regime has been so effective that it could be an exemplar not just in Africa, but for the West, said Emmanuel Tumusiime-Mutebile, the governor of the East African nation's central bank, on Wednesday.

"To some extent, we are decoupled from the West, but we do have subsidiaries of Western banks operating in Uganda. But because we have risk-based supervision, unlike America, we were able to protect our banks. This is one thing we can teach the Americans," he said at the launch