Credit market dynamics in an evolving regulatory space and market participants’ environment, has seen the seventh edition of Kenya Bankers Association, focus its discussions on the way forward with the hope of getting recommendations that will help in optimizing the financial sector’s contribution to the economic .
This effort are said to have been motivated by the fact that the sector is an integral catalyst of the country’s economic development.
According to Habil Olaka the Chief executive Kenya Bankers Association, the credit market is fast changing with new market players coming on board as well as the evolving expectations of beneficiaries of financial services and regulators.
Discussions on consumer protection had also been expected to take center stage at this year’s forum with the CBK governor lauding the move.
‘’This forum will create a platform to evaluate the impact of the rising use of technology in promoting both operational efficiency and effective service delivery. To this end, some of the presentations will provide insights into ways through which financial service providers can leverage on emerging technologies, especially in the credit market, as crucial enabler of further access to credit services in the economy.’’ Said Habil Olaka.
Kenya Commercial Bank Chief Executive Officer Joshua Oigara, who also doubles as the KBA Chair added that the focus of the Conference could not have come at a better time, given that industry discussions in recent years have centred around facilitating access to credit to small enterprises and the private sector.
Mr. Oigara called on players in the industry to explore ways of increasing credit access to industries that have low access levels, noting that the banking industry remains upbeat in regard to opportunities that the economy offers.
The forum comes at a time when analyst claim the government is the biggest beneficiary of the interest rate capping law, which has seen banks opt to lend to the government as opposed to lending to the general market.
