The Kenya Bankers Association (KBA) is working on a self–regulatory framework and standards that will see it take a legal stand on any member involved in unethical practices.
The standards, which will be adopted in June during the KBA Annual General Meeting, will seek to address issues specific to the banking industry in order to complement the existing Code of Ethics for Business in Kenya.
“Given what has evolved in the market and given what kind of anxiety that has been created, and essentially pointing out that there could be areas of corporate governance issues, transparency and accountability, we need to see how we can reinforce the system and what role the KBA can play,” KBA chief executive officer Habil Olaka said.