The Central Bank is currently working on modalities of incorporating the Deposit Taking Microfinance Institutions into the CIS mechanism. Indeed, it is the Government’s intention to create a framework whereby all financial institutions such as banks, Deposit-Taking Microfinance Institutions, SACCO’s and other licensed credit providers will have access to and exchange credit information across the board.
I am pleased to participate in the excellent annual Philadelphia Federal Reserve Policy Forum to discuss this year’s timely topic of innovations in financial markets. Innovations in financial markets have created a wide range of investment opportunities that allow capital to be allocated to its most productive uses and risks to be dispersed across a wide range of market participants.