Members of the Kenya Bankers Association (KBA), the banking industry umbrella body, during the Association’s Annual General Meeting re-elected Mr. Lamin Manjang, Regional CEO of Standard Chartered Bank, as the Chairman of the KBA board of directors. 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.
Founded in July 1962, KBA 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.
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.