First, it is our responsibility to ensure that we continually put people’s needs at the core of banking business. This is one of the commitments that financial institutions made through the adoption of the Kenya Banking Sector Charter (KBSC) issued in 2019.
A key consideration was the sharing of responsibility for financial stability, realising the synergies that existed between the central banking and financial regulation functions. Other advantages included optimising the use of technical skills, benefiting from economies of scale in the provision of shared services and promoting communication between both areas.