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Monetary Policy CommitteeBank supervisionCapital-markets conductTreasury billsListed banksMoney marketsSaccosInsuranceNSE disclosures

2 pieces

Explainer

Reference7 minresearch / financial-inclusion file

SASRA, IRA, and the perimeter beyond commercial banks

  • Facts

A perimeter guide: deposit-taking saccos under SASRA, insurers under IRA, and why a bank-only reading of Kenya’s financial system misses binding decisions.

  • A large share of household deposits and credit in Kenya sits outside commercial-bank licences.
  • SASRA is the primary for deposit-taking sacco supervision. IRA is the primary for insurance conduct and solvency publications.
  • Citing CBK for a sacco circular, or CMA for an insurance enforcement, is a category error.
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Explainer

Reference9 minany desk that cites a Kenyan primary

Who sets what: CBK, CMA, NSE, and the National Treasury

  • Facts
  • Analysis

A map of institutional roles in Kenya’s banking and capital-markets system — who issues, who regulates, who operates the exchange, and who sets policy rates — so a desk does not cite the wrong primary.

  • The Central Bank of Kenya sets the policy rate and supervises banks. It is not the listing authority for equities.
  • The Capital Markets Authority regulates markets and licensed persons. The NSE operates the cash equity and listed-debt venue.
  • The National Treasury is the sovereign issuer. Confusing issuer, regulator, and venue is the most common citation error we see.
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