Regulatory Alerts2012-05-17
Guideline on Marketing Offices and Agencies for DTMs
The Central Bank of Kenya issues guidelines for deposit-taking microfinance institutions (DTMs) to open, relocate, or close marketing offices and agencies. DTMs must apply for approval from the Central Bank, providing lease agreements, business cases, and security provisions. Annual renewal fees are required, and institutions must ensure proper physical infrastructure, human resources, and security measures. Institutions must also establish consumer protection measures, including mechanisms for customer identification, transaction receipts, and complaint redress. The Central Bank may impose monetary penalties and administrative sanctions for non-compliance. The guideline covers risk management, data and network security, and consumer protection.