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CENTRAL BANK OF KENYA Prof Kinandu Muragu Executive Director Kenya School of Monetary Studies Godfrey Kyama Commonwealth eBanking Advisor Kenya School.

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Presentation on theme: "CENTRAL BANK OF KENYA Prof Kinandu Muragu Executive Director Kenya School of Monetary Studies Godfrey Kyama Commonwealth eBanking Advisor Kenya School."— Presentation transcript:

1 CENTRAL BANK OF KENYA Prof Kinandu Muragu Executive Director Kenya School of Monetary Studies Godfrey Kyama Commonwealth eBanking Advisor Kenya School of Monetary Studies

2 Background Government Role Regulation National Payment System Customer Protection Framework Conclusion

3 M-Pesa – the word Evolution, Revolution and Innovation Mobile Money and M-Pesa – M-Kesho

4 Government attitude Kenya Communication Act Private sector role Impact:

5 Very innovative Financial inclusion Impact: 6 outlets Bank of Africa1 Barclays Bank of Kenya64 Commercial Bank of Africa1 Chase15 Consolidated9 Co-operative83 Eco Bank12 Equity22 Family53 Gulf10 Housing Finance7 Imperial7 KCB157 KFWT10 NBK10 TOTAL461

6 Safe and Efficient – Amended CBK Act – National Payments System Bill – Agent Banking – Proceeds of Crime and Anti-Money Laundering Act Impact: Financial Inclusion!

7 Source: Central Bank of Kenya 2012

8 Volume of mobile money transactions increasing steadily Source: Central Bank of Kenya 2012

9

10 Consumer and Deposit Protection Competition and interoperability Consumer protection and innovation Consumer protection regulation? o Rules of the game? Consumer rights? Consumer protection law

11 Rapid and dramatic mobile money Kenya is world leader – Nesting ground for mobile money Technology and the poor – An agent of financial inclusion Policy makers + Regulators – Innovation and market access


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