2011-12-21

Guideline on the Appointment and Operations of Third Party Agents

The Central Bank of Kenya issues guidelines for deposit-taking microfinance institutions (DTMs) to follow when appointing third-party agents. The guidelines cover the application and approval process, agent operations, and permissible activities. DTMs are responsible for ensuring proper controls, security policies, and risk management. Agents must meet eligibility criteria and are subject to due diligence checks. The contract between DTMs and agents should include specific provisions, and DTMs are responsible for agent training and oversight. Reporting requirements and consumer protection measures are also outlined.

Kenya

Central Bank of Kenya

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