Financial Sector Assessment : Kenya

This Financial Sector Assessment (FSA)
is based on the work of the joint International Monetary
Fund (IMF)- World Bank missions that visited Kenya from July
15 to July 24,2003, and from September 30 to October 15,
2003, in the context of the Financial Sector Assessment
Program (FSAP). The principal objective of the missions was
to assist the Kenyan authorities in assessing the
development needs and opportunities for the financial sector
and identifying potential vulnerabilities of financial
institutions and markets to macroeconomic shocks, as well as
the risks to macroeconomic stability from weaknesses and
shortcomings in the financial sector. In this context,
Kenya's compliance with the Basel core principles for
Effective Banking Supervision (BCP); International
Organization of Securities Commissions (IOSCO) principles
for securities regulation; and corporate insolvency and
creditor rights issues was formally assessed. A separate
mission to assess Anti-Money Laundering (AML) or Combating
the Financing of Terrorism (CFT) took place in October and
November 2003; the Report on Observance of Standards and
Codes (ROSC) from that mission is included in the FSAP documentation.