The Authority participated in the 16th Joint Financial Sector Regulators Forum (JFSR) in the just concluded Annual Boards Retreat.
Held under the theme “Fostering Financial Stability and Resilience Amidst Emerging Risks, and Regulatory Reforms,” the Forum brought together boards and chief executives and senior management from Kenya’s financial sector regulators.
During the retreat, participants underscored the need to assess the impact of innovative financial products on financial stability, calling for targeted research and continuous monitoring to better identify and mitigate emerging risks while supporting innovation and inclusion.
The Forum also emphasized the importance of managing concentration risk arising from reliance on third-party technology service providers, noting that disruption of a single provider could impact multiple institutions and compromise service delivery.
Additionally, the Forum agreed on the need to strengthen supervisory capacity for AML/CFT/CPF compliance, bolster consumer protection frameworks, and align Crisis Management and Resolution Frameworks with international best practices to enhance confidence in the financial system.
