Caritas Microfinance Bank has joined the Kenya Bankers Association (KBA) as the 47th member. KBA says that the move was enabled by a 2013 amendment that allowed the body to incorporate other institutions including deposit taking microfinance institutions and the representative office of foreign based banks.
Caritas joins other microfinance institutions such as Kenya Post Office Savings Bank (Post Bank), KWFT, Faulu, and Rafiki Microfinance who joined after the 2013 amendment.
Caritas launched in June 2016 and operates six branches and 60 banking agents across Kenya. The microfinance bank products include current and saving accounts, term loans and asset finance, LPO finance, and foreign exchange solutions.
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