A conference organised by Kenyan bankers kicked off in Nairobi, Thursday, seeking to enhance linkages between finance industry priorities and national economic development.
Organised by the bankers lobby Kenya Bankers Association (KBA), the conference is part of its Annual Banking Research Conference.
The two-day conference was opened by the Central Bank Deputy Governor Sheila M’Mbijjiwe, who noted that the theme of the conference is a demonstration that the banking industry is keen on having its operations and strategic focus informed by collective analytical work.
Kenya Bankers Association Governing Council chairman, Lamin Manjang, reiterated said a vibrant banking system is critical in an economy, highlighting how the industry can create value and economic growth.
“As an industry we continue to map out strategies to ensure financial stability by embracing dynamism, innovation and efficiency to the benefits of the banking public. We do so through collaboration with the Central Bank of Kenya and National Treasury. It is through collaboration that we have collectively managed to make headways in a number of areas including: credit information sharing initiative; Annual Percentage Rate (APR) and Kenya Banks Reference Rate (KBRR); Agency banking model; and modernizing the national payment system under the National Payments Act, “Manjang said.
KBA CEO Habil Olaka emphasized on the impact of having banking industry at the centre of the economy. Stressing on the importance of linking focuses on resource allocation by the Kenyan banking industry.
“The financial institutions, of which the banking system is an integral part, play a major role of financial intermediation and consequently economic development. This conference, therefore, seek to initiate conversation on the link between finance and economic performance. A deeper understanding of this relationship is essential as it serve as a pointer to the channels of credit allocation that best serves the growth agenda.”
Since 2012, Kenya Bankers Association Centre for Research on Financial Markets and Policy has been hosting the Annual Research Conference as its flagship event to showcase its research agenda.
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