Principles underlying the proposed credit union legislation Ladies and Gentlemen, I now turn to the proposed credit union legislation. At the outset, I must draw your attention to the fact that the Central Bank has engaged extensively with stakeholders on crafting a new, robust regulatory regime for credit unions.
These stakeholders include the Ministry of Finance, the Ministry of Labour and Small and Micro Enterprise Development, the Co-operative Credit Union League, the Association of Credit Union Presidents, and members from the credit union movement. Over the past six years, the Central Bank has issued three Policy Proposal Documents (PPDs) with a view to developing the best possible legislation for the credit union sector.