KBA Members Appoint Governing Council And Re-Elect Standard Chartered Bank CEO As Chairman
KBA Marks 55th Anniversary as Dubai Islamic Bank Joins Membership
Nairobi, 29th JUNE 2017: Members of the Kenya Bankers Association (KBA), the banking industry umbrella body, during the Association's Annual General Meeting today re-elected Mr. Lamin Manjang, Regional CEO of Standard Chartered Bank, as the Chairman of the KBA board of directors, known as the Governing Council. He will serve for the stipulated 12 month term. Mr. John Gachora, Group CEO of NIC Bank will continue to serve as Vice Chairperson. The General Body also welcomed Dubai Islamic Bank as a new member, and marked the Association's 55th anniversary. KBA was founded on 16th July 1962 and is now the leading financial sector advocacy group in East Africa.
Mr. 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 Mr. 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 were 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.
KBA during the reporting period also saw the introduction of the Inuka Enterprise Program to support Micro, Small and Medium-sized businesses (MSMEs); formation of the Amari Leading Women in Banking and Finance Network aimed at promoting corporate diversity in the banking sector; and the successful implementation of the Sustainable Finance Initiative.
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.
On his part, the KBA Chief Executive Officer Mr. Habil Olaka thanked the KBA members and the Council for their leadership role in the implementation of various transformational programmes that have ensured innovation, efficiency and standardization of banking services to conform to global best practices.
KBA Governing Council for the 2017/2018 period:
The KBA General Body is now comprised of 48 retail and commercial banks, and micro finance 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. The incoming Council members are as follows:
Notes to editors - About the Kenya Bankers Association:
KBA (www.kba.co.ke) was founded on 16th July 1962. Today, KBA is the financial sector's leading advocacy group and banking industry umbrella body that represents total assets in excess of USD 37 billion. KBA has evolved and broadened its function to include advocacy on behalf of the banking industry, and championing financial sector development through strategic projects such as the launch of the industry's first P2P digital payments platform PesaLink. In line with the Government's policy on public-private partnerships, KBA and Central Bank of Kenya have implemented key projects such as modernization of the National Payments System through the Automated Clearing House, implementing the Real Time Gross Settlement System (RTGS), and the Kenya Credit Information Sharing Initiative. The KBA members are comprised of commercial banks and deposit taking microfinance banks. These banks are represented by their Chief Executive Officers, who appoint a Governing Council to oversee industry wide activities on the General Body's behalf. The Governing Council is supported by various Committees and Sub-Committees which are comprised of nominated bank representatives. These committees coordinate activities with the KBA Secretariat.
For more information, kindly contact Ms. Nuru Mugambi, Director of Communications and Public Affairs, Kenya Bankers Association, Phone: +254-20-2221704/2224014 or Email: email@example.com