There are no problems of moral hazard. 6  BIS central bankers’ speeches  The management of this rather unique system, like that which occurs in the euro area, must take into account two important aspects that distinguish theory from practice. The first is that conditions can be found in which markets do not work as the theory predicts.
*  *  *  Mr. Saleh Usman Gashua, Secretary General, AFRACA; Prof. Kinandu Muragu, Executive Director, KSMS and AFRACA’s sub-regional chair for East Africa; Facilitators; Distinguished Guests and Participants; Ladies and Gentlemen; It is my pleasure to officially open this knowledge exchange programme on Mobile and Agency Banking in Kenya.