Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The regulators will work to harmonise their market infrastructure systems in preparation for the adoption of RBS regionally/FILE

Kenya

EA market regulators to enhance rules

The regulators will work to harmonise their market infrastructure systems in preparation for the adoption of RBS regionally/FILE

The regulators will work to harmonise their market infrastructure systems in preparation for the adoption of RBS regionally/FILE

NAIROBI, Kenya, Aug 19 – Regional capital markets regulators under the umbrella of East African Securities Regulatory Authorities (EASRA) have agreed to develop and implement a harmonised Risk-Based Supervision (RBS) framework across the region.

The framework will include financial resources rules, conduct of business and governance rules, formulation of a standardised risk based capital adequacy reporting mechanism and harmonisation of paid up share capital for various licence categories across the region.

Additionally, the regulators will work to harmonise their market infrastructure systems in preparation for the adoption of RBS regionally.

In a statement issued at the end of the 38th EASRA consultative meeting held in Nairobi, EASRA Chairman Japheth Katto said that the adoption of RBS across the region would aid in early identification of emerging risks and provision of a consistent framework for risk evaluation to develop sound regional capital markets.

Katto, who is also the CEO of Uganda’s Capital Markets Authority, chaired the meeting which was attended by Paul Muthaura Acting Chief Executive Capital Markets Authority, Kenya, Robert Mathu, Executive Director of the Capital Markets Authority, Rwanda and Melchior Wagara, First Deputy Governor, Bank of Burundi.

EASRA members noted the progress by Burundi in establishing a capital market and committed to offer technical assistance in support of the effort.

Burundi joined EASRA in 2011 with a focus on leveraging existing expertise to fast-track the establishment of its domestic capital markets.

As part of branding efforts aimed at giving the regional body more visibility, EASRA adopted a new look logo and corporate manual, to be officially launched in the last quarter of 2013.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...