However, all objectives may not have been spelt out explicitly in the central bank legislation but may evolve through traditions and tacit understanding between the government, the central bank and other major institutions in an economy. Of late, however, considerations of financial stability have assumed increasing importance in monetary policy.
Ladies and Gentlemen: Last week, in an affirmative move to expanding access to finance, Equity Bank, a leading Kenyan bank partnered with Safaricom, a leading Kenyan telecom operator, to provide an integrated banking and telecommunication financial services product. This product known as M-Kesho is accessible through a mobile phone alongside the internationally celebrated money transfer service, MPesa.