Given That The Primary Purpose Of Finance Is To Facilitate Productive Economic Activities, Regulation Should Aim At Maintaining Financial Stability And Promoting Economic Growth.
Some argue that this suggests a case for more effective regulation. Financial sector regulation in kenya. Existing financial sector regulatory framework in kenya.
Financial Regulators In Kenya Comprising:
The population of interest in the study comprised all the institutions licensed in the banking, insurance, investments and pensions sectors. There is a similarity in the regulation imposed by the governing legislation in each sector in the separate legislation governing the financial services. Payment services are regulated by the central bank of kenya under the national payment system act 2011 and the national payment system regulations 2014 issued thereunder.
The Rationale For Regulation Financial Systems Are Prone To Periods Of Instability.
This is a delicate balancing act, as too great a focus on stability could stifle growth, while a dash for growth is likely to sow the seeds of future crises. The financial sector is considered as the most instrumental to assist. There are five key agencies and regimes for prudential regulation:
Restructure The Regulatory Framework Of Kenya’s Financial Markets And The Perception Of Financial Market Intermediaries Regarding A Single Regulator Model For Kenya’s Financial Markets.
Mwega which have spread to neighbouring countries), foreign banks and development this case study investigates the potential tradeoffs between regulations and stability of kenya’s financial sector and their implications for inclusive growth. Central bank of kenya (cbk) for banks and payments settlement; Financial sector regulation in kenya.
Central Bank Of Kenya (Cbk) For Banking, The Capital Markets Authority (Cma) For The Capital Markets, The Insurance Regulatory Authority (Ira) For Insurance, The Retirement Benefits Authority (Rba) For Pensions, And Sacco Societies Regulatory Authority (Sasra) For.
The five sectors comprising kenya’s financial system each have their own regulator: Financial stability fosters the development of a vibrant and inclusive financial system that enable kenya to meet the national development aspirations. Through vision 2030, the government aims to create a ’’vibrant and globally competitive financial sector.