Publication: Financial Sector Assessment : Kenya
Loading...
Published
2005-03
ISSN
Date
2013-09-30
Author(s)
Editor(s)
Abstract
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.
Link to Data Set
Citation
“World Bank. 2005. Financial Sector Assessment : Kenya. © World Bank. http://hdl.handle.net/10986/15940 License: CC BY 3.0 IGO.”
Digital Object Identifier
Associated URLs
Associated content
Other publications in this report series
Journal
Journal Volume
Journal Issue
Collections
Related items
Showing items related by metadata.
Publication Kyrgyz Republic - Financial Sector Assessment(Washington, DC, 2007-09)This Financial Sector Assessment (FSA) summarizes the structural and developmental aspects of the 2006 FSAP Update report for the Kyrgyz Republic. The stability and prudential oversight aspects of that report, including the factual updates of ROSCs and the results of the Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) assessment, are summarized in the Financial System Stability Assessment (FSSA) that was discussed by the IMF Board, as part of the Article IV Consultation, in May 2007. This FSA should be read together with the FSSA in order to get a full sense of the findings and recommendations of the 2006 Kyrgyz Republic FSAP Update. The key conclusion of the FSAP Update is that key challenges today pertain to the regulation, supervision and development of the non bank finance sector, and to access to finance.Publication Belarus : Financial Sector Assessment(Washington, DC, 2009-11)The Financial System Assessment (FSA) is based on the work of the joint International Monetary Fund (IMF)-World Bank Financial Sector Assessment Program (FSAP) updates that visited Belarus from September 17, 2007 to September 30, 2008. The principal objective of the FSAP update was to assist the authorities in evaluating progress, assessing potential vulnerabilities of the financial system, and determining future challenges. The IMF and the World Bank, an aide-memoire, technical notes on a detailed assessment of compliance with Basel Core Principles (BCP) principles of Banking supervision, summary assessment of compliance with the International Organization of Securities Commissions (IOSCO) principles, and access to finance, and background notes on stress-testing and the insurance sector have been submitted to the authorities. Overall, the supervisory framework for banks has significantly improved since the 2004 FSAP, though concerns remain in some crucial dimensions. The new Banking code was passed in 2006, and secondary legislation is updated on a regular basis. While the majority of recommendations made by the 2004 BCP assessment have been adopted or are in process of implementation, the independence of the National Bank of Republic of Belarus (NBRB) Board and bank supervisory processes continue to pose operational and reputation risks. As well, the capital adequacy framework needs substantial improvement to more accurately reflect the structure of the banking sector. Supervisory actions could be significantly enhanced by imposing adequate corporate governance requirements for banks.Publication Financial Sector Assessment : Burundi(Washington, DC, 2009-12)The financial sector, dominated by the banks, is vulnerable to external shocks. The country is exposed to terms of trade shocks mainly from coffee and oil prices, which could impact banks through real sector effects. The banking system is also vulnerable to a decline in external assistance which funds nearly half of the government on which a large share of the economy depends. Burundi has not been directly affected by the international crisis, but second round effects are likely to impact growth and foreign aid prospects The Bank of the Republic of Burundi (BRB) is making major efforts to improve the regulation and supervision of the financial institutions under its responsibility, but it continues to face significant obstacles The microfinance sector is facing major challenges, and its supervision reflects the constraints affecting the BRB. All the on-site inspections organized by the BRB revealed serious problems and violations of prudential rules, in particular in the areas of accounting, governance, or the absence of reliable internal controls. In order to put the industry on a sound footing, it is essential to: (i) update the regulatory framework to facilitate the growth of a sound industry and introduce a specific chart of accounts; (ii) develop supervision that is capable of preserving the health of the sector, and of deposits in particular; and (iii) promote the professionalization of the industry itself, with improved human capacities, appropriate management tools, modern methodologies, and good governance.Publication Getting Finance in South Asia 2009(Washington, DC : World Bank, 2008)This report, getting finance in South Asia 2009, published annually by the unit, reaffirms the World Bank's commitment to working with developing member countries to promote financial sector development and create financial systems that are sound, stable, supportive of growth, and responsive to people's needs. This program has enabled the Bank to initiate a dialogue with the supervisory authorities in South Asia to improve their data collection efforts, which will in turn strengthen their off-site supervision work. It also provides the impetus for the Bank to expand its monitoring and evaluation work. The getting finance indicators, and the country rankings that are based on them, are expected to become an increasingly important reference tool for the Bank in monitoring and evaluating development objectives and outcomes in its financial sector operations. These indicators should also prove to be a valuable tool for financial sector supervisory agencies in South Asia. The updated indicators, country rankings, and benchmarks should better equip these agencies to monitor the health of their respective country's banking system and to assess its robustness and sustainability relative to others in South Asia and in more developed economies.Publication Innovative Experiences in Access to Finance : Market Friendly Roles for the Visible Hand?(World Bank, Washington, DC, 2007-08)Interest in access to finance has increased significantly in recent years, as growing evidence suggests that lack of access to credit prevents lower-income households and small firms from financing high return investment projects, having an adverse effect on growth and poverty alleviation. This study describes some recent innovative experiences to broaden access to credit. These experiences are consistent with an emerging new view that recognizes a limited role for the public sector in financial markets, but contends that there might be room for well-designed, restricted interventions in collaboration with the private sector to foster financial development and broaden access. The authors illustrate this view with several recent experiences in Latin America and then discuss some open policy questions about the role of the public and private sectors in driving these financial innovations.
Users also downloaded
Showing related downloaded files
Publication Global Economic Prospects, June 2024(Washington, DC: World Bank, 2024-06-11)After several years of negative shocks, global growth is expected to hold steady in 2024 and then edge up in the next couple of years, in part aided by cautious monetary policy easing as inflation gradually declines. However, economic prospects are envisaged to remain tepid, especially in the most vulnerable countries. Risks to the outlook, while more balanced, are still tilted to the downside, including the possibility of escalating geopolitical tensions, further trade fragmentation, and higher-for-longer interest rates. Natural disasters related to climate change could also hinder activity. Subdued growth prospects across many emerging market and developing economies and continued risks underscore the need for decisive policy action at the global and national levels. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.Publication Classroom Assessment to Support Foundational Literacy(Washington, DC: World Bank, 2025-03-21)This document focuses primarily on how classroom assessment activities can measure students’ literacy skills as they progress along a learning trajectory towards reading fluently and with comprehension by the end of primary school grades. The document addresses considerations regarding the design and implementation of early grade reading classroom assessment, provides examples of assessment activities from a variety of countries and contexts, and discusses the importance of incorporating classroom assessment practices into teacher training and professional development opportunities for teachers. The structure of the document is as follows. The first section presents definitions and addresses basic questions on classroom assessment. Section 2 covers the intersection between assessment and early grade reading by discussing how learning assessment can measure early grade reading skills following the reading learning trajectory. Section 3 compares some of the most common early grade literacy assessment tools with respect to the early grade reading skills and developmental phases. Section 4 of the document addresses teacher training considerations in developing, scoring, and using early grade reading assessment. Additional issues in assessing reading skills in the classroom and using assessment results to improve teaching and learning are reviewed in section 5. Throughout the document, country cases are presented to demonstrate how assessment activities can be implemented in the classroom in different contexts.Publication Digital Africa(Washington, DC: World Bank, 2023-03-13)All African countries need better and more jobs for their growing populations. "Digital Africa: Technological Transformation for Jobs" shows that broader use of productivity-enhancing, digital technologies by enterprises and households is imperative to generate such jobs, including for lower-skilled people. At the same time, it can support not only countries’ short-term objective of postpandemic economic recovery but also their vision of economic transformation with more inclusive growth. These outcomes are not automatic, however. Mobile internet availability has increased throughout the continent in recent years, but Africa’s uptake gap is the highest in the world. Areas with at least 3G mobile internet service now cover 84 percent of Africa’s population, but only 22 percent uses such services. And the average African business lags in the use of smartphones and computers as well as more sophisticated digital technologies that catalyze further productivity gains. Two issues explain the usage gap: affordability of these new technologies and willingness to use them. For the 40 percent of Africans below the extreme poverty line, mobile data plans alone would cost one-third of their incomes—in addition to the price of access devices, apps, and electricity. Data plans for small- and medium-size businesses are also more expensive than in other regions. Moreover, shortcomings in the quality of internet services—and in the supply of attractive, skills-appropriate apps that promote entrepreneurship and raise earnings—dampen people’s willingness to use them. For those countries already using these technologies, the development payoffs are significant. New empirical studies for this report add to the rapidly growing evidence that mobile internet availability directly raises enterprise productivity, increases jobs, and reduces poverty throughout Africa. To realize these and other benefits more widely, Africa’s countries must implement complementary and mutually reinforcing policies to strengthen both consumers’ ability to pay and willingness to use digital technologies. These interventions must prioritize productive use to generate large numbers of inclusive jobs in a region poised to benefit from a massive, youthful workforce—one projected to become the world’s largest by the end of this century.Publication World Development Report 2006(Washington, DC, 2005)This year’s Word Development Report (WDR), the twenty-eighth, looks at the role of equity in the development process. It defines equity in terms of two basic principles. The first is equal opportunities: that a person’s chances in life should be determined by his or her talents and efforts, rather than by pre-determined circumstances such as race, gender, social or family background. The second principle is the avoidance of extreme deprivation in outcomes, particularly in health, education and consumption levels. This principle thus includes the objective of poverty reduction. The report’s main message is that, in the long run, the pursuit of equity and the pursuit of economic prosperity are complementary. In addition to detailed chapters exploring these and related issues, the Report contains selected data from the World Development Indicators 2005‹an appendix of economic and social data for over 200 countries. This Report offers practical insights for policymakers, executives, scholars, and all those with an interest in economic development.Publication Argentina Country Climate and Development Report(World Bank, Washington, DC, 2022-11)The Argentina Country Climate and Development Report (CCDR) explores opportunities and identifies trade-offs for aligning Argentina’s growth and poverty reduction policies with its commitments on, and its ability to withstand, climate change. It assesses how the country can: reduce its vulnerability to climate shocks through targeted public and private investments and adequation of social protection. The report also shows how Argentina can seize the benefits of a global decarbonization path to sustain a more robust economic growth through further development of Argentina’s potential for renewable energy, energy efficiency actions, the lithium value chain, as well as climate-smart agriculture (and land use) options. Given Argentina’s context, this CCDR focuses on win-win policies and investments, which have large co-benefits or can contribute to raising the country’s growth while helping to adapt the economy, also considering how human capital actions can accompany a just transition.