Indeed, the ability to compare will be an important constraint on any supervisor, foreign or U.S., who might not diligently apply the rules to its banks; outliers will appear unusual and, with insufficient explanation, be subject to market discipline. Indeed, a key reason for Pillar III is to seek to harness market discipline to bring pressure on banks to adopt safe and sound practices.
The number of mobile phone money agents has increased from 307 when M-Pesa was launched in March 2007 to a network of small business units of more than 50,000. These businesses have become more inclusive and created thousands of stable formal sector jobs that pay regular incomes to Kenyans.