2014-03-27

Steps In Licensing Money Remittance Providers (MRPS)

To become a licensed Money Remittance Provider in Kenya, applicants must follow a rigorous process involving four stages: name approval, license application, letter of intent, and final license issuance. This includes submitting extensive documentation, meeting capital requirements, and undergoing due diligence checks by the Central Bank of Kenya. The process aims to ensure that applicants are fit and proper with robust systems and controls in place to protect customers and maintain financial stability.

Kenya

Central Bank of Kenya

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