NAIROBI, Kenya, Jun 30 – Standard Chartered Bank Chief Executive Lamin Manjang has been re- elected as the Chairman of the Kenya Bankers of Association (KBA) board of directors.
Manjang will serve for the stipulated 12-month term besides NIC Bank CEO John Gachora who will continue to serve as Vice Chairperson.
Manjang was recognised as being instrumental in steering the industry during the period that saw the enactment of the Banking (Amendment) Act, which introduced price controls on bank deposit and loan interest rates.
Notable developments under Manjang and Gachora’s leadership include greater banking innovation and industry-wide collaboration towards enhanced efficiency of the national payments system.
The establishment of Integrated Payment Services Limited (IPSL) and launch of PesaLink was recognised as the hallmark of their chairmanship.
KBA this year unveiled PesaLink as the banking industry’s first, real-time 24/7 peer-to-peer (P2P) digital platform.
The General Body also welcomed Dubai Islamic Bank as a new member,
Joining the KBA Governing Council are Citibank represented by Regional CEO JoyceAnn Wainaina; GTBank represented by East Africa Managing Director Ibukunoluwa Odegbaike; and Dubai Islamic Bank (Kenya) represented by Chief Executive Officer Dan Omoro.
The KBA General Body is now comprised of 48 retail and commercial banks, and microfinance institutions that are licensed and regulated by the Central Bank of Kenya.
These institutions are represented by their Chief Executive Officers/Managing Directors, who appoint a Governing Council to oversee industry-wide activities on behalf of the General Body.