The Faculty has a number of collaborations which include:
- Drake University- MUBS has an MOU Drake university to have notable students exchange programs to the USA for a leadership program since 2012.
- Professional Accounting bodies- ACCA and ICPAU.
- Friedrich Ebert Stiftung- A working MOU with the Faculty to promote a debate in Economics and Development issues.
- FOC is a member of the African Accounting and Finance Association Conference.
- FOC has a working MOU with the AMFIU, IFAD, NAD and STROMME Foundation in the different areas of Microfinance.
- FOC is represented in the Ministry of Finance, Planning, and Economic Development Microfinance Forum.
- FOC collaborates with CFA Eastern Africa Society and participates in the annual Global CFA Research challenge in Nairobi
- Students in the faculty participate in the annual Bank of Uganda inter-university Monetary Policy research challenge and also the one organized by the Insurance Institute of Uganda.