The proposed amendment of the BSP Charter is a very critical element in the banking reform agenda. We are particularly seeking changes to strengthen the institutional arrangements for banking supervision that will enable us to fully comply with best international practice.
To this end, the number of licensed representative offices of top international banks has steadily grown from one (1) in 2008 to four (4) in 2011. Moreover a fifth institution was granted an approval in principle on 5th March 2012 to establish a representative office in Kenya.