New Rules Promote Accountability for Kenyan MFIs
Obura, F.

The Association of Microfinance Industry (AMFI) has adopted rules designed to govern and promote accountability among its members. AMFI Chairperson Jennifer Riara said rising concern worldwide on the effectiveness of microfinance to fight poverty had prompted the signing of the new regulation that was witnessed by 43 of its members at a Nairobi hotel.

Riara said the pact is a clear indication that microfinance in Kenya does not experience ‘mission shift’ in its operations and is focused on taking financial services to the marginalized communities. The note signed includes defining criteria and the process of bringing in new members, code of conduct among several key governance areas.

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