2010-04-30

Banking Circular No 2 of 2010 - Guideline on Agent Banking

The Kenyan government, through the Central Bank (CBK), has issued a guideline on agent banking to enhance financial penetration in line with Vision 2030. This guideline was introduced as a result of the amendment to the Banking Act in 2009 allowing banks to contract third parties to provide certain banking services in underserved areas. The purpose is to increase accessibility and inclusion of the Kenyan population in the financial sector while ensuring stability, efficiency, and safety within the banking industry. This guideline will be effective from May 1st, 2010, and failure to adhere to it may result in remedial measures as specified under the Banking Act and Regulations thereunder.

Kenya

Central Bank of Kenya

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