Especially among developed nations, we cannot afford a growing disparity in the quality of risk practices at our important institutions, nor a disparity in the quality of supervision of those institutions. As bankers like to say, the worst competitor is an uninformed competitor -- and that goes doubly for the competitor’s supervisor.
The first microfinance bank in Kenya was licensed in May, 2009. This paved the way for 11 other microfinance banks which have been licenced to date. The 12 licenced microfinance banks have made a significant contribution to financial inclusion in Kenya. This is evidenced by the number of active deposit and loan accounts as at December 2015 which was 931,585 and 342,481 respectively.