Ladies and Gentlemen: The increase in the number of banks in Nakuru is an indication that the town is in the process of developing the requisite infrastructure necessary to support the activities of the banks. Banks have probably been attracted to Nakuru by its uniqueness of being both an agricultural, tourism and industrial town.
We have recently launched an Islamic Sukuk liquidity instrument, which is a repurchase agreement that enables financial institutions, both conventional and Islamic, to access short-term liquidity against the Government of Bahrain Ijara Sukuk. At the same time, however, the primary responsibility for sound risk management and control resides with the firms themselves.