Uhuru Kenyatta, Deputy Prime Minister and Minister for Finance; Permanent Secretaries, here present; Mr. Martin Oduor Otieno, Chairman, Kenya Bankers Association; Mr. John Wanyela, Chief Executive Officer, Kenya Bankers Association; Mr. David Ferrand, Director, Financial Sector Deepening Trust Kenya; Distinguished Guests; Ladies and Gentlemen: It is with great pleasure that we congregate here this morning to chart the way forward on another avenue of enhancing efficiency in our banking system.
The payments sector is a key component of the European single market. Because of its lingering fragmentation along national borders, it has been the focus of several technical and regulatory interventions aimed at improving harmonization among Member States. During this journey, PSD2 has been a landmark: it has brought about greater harmonization and competition in payment services.