NAIROBI, Kenya, Sept 26 – The Capital Markets Authority (CMA) and the Kenya Bankers Association (KBA) have signed a Memorandum of Understanding that sets the stage for closer collaboration between the two organizations in the areas of research, data sharing, analysis, and stakeholder engagement.
In the MOU, CMA and KBA seek to reinforce the ability of the financial sector to be a key driver of economic development and transformation through research and innovation.
The two organizations also committed to champion industry development through advocacy and promoting investor education and awareness.
The low uptake of capital markets products and services will also be addressed through synergies designed to explore how the banking industry, being a major participant in the capital markets, can address both issuer and product dynamics, as well as, identify financing solutions for alternative infrastructure.
CMA Chief Executive, Paul Muthaura said the partnership will also seek to establish the low uptake of capital markets products and services as well as provide possible remedial products.
“This MOU is a natural progression to further support closer coordination and cooperation with the Association as a key strategic partner,’’ he said.
KBA partnered with the CMA in the development of the capital markets through its initiation of the Kenya Green Bond Program and active participation in the Bond Market Steering Committee, Capital Markets Master Plan (CMMP) Steering Committee, and CMMP Industry Working Groups.
The KBA Chief Executive, Habil Olaka, said that in keeping with the MOU, the banking industry and CMA will embrace a collaborative approach on research and policy outputs in a bid to ensure stakeholder involvement prior to development of policy and regulation frameworks.