objectives. in this sketch of our history, i would also want to flag the following important achievements. 1. the conduct of monetary policy has been improved in line with global practices, developments in the financial sector, and the changing economic environment. the establishment of the monetary policy committee ( mpc ) in 2008 has enhanced the legitimacy and transparency of monetary policy decisions, as well as guiding expectations about the policy direction. 2. the prudential regulation and supervision of banks has been strengthened over the years. for instance, risk management guidelines were issued in 2005. in response to the need to strengthen the powers to resolve banks and thereby enhance the sector ’ s stability, the kenya deposit insurance act was enacted in 2012. consolidated supervision and regulation of banks with cross - border operations has also been enhanced. we are grateful to our development partners that have and are helping us in this area. 3. financial inclusion has increased substantially. access to formal financial services has increased from 26 percent in 2006 to over 75 percent currently. conversely, the proportion of the population that are financially excluded has been reduced by half since 2006. additionally, kenya ’ s ranking of access to credit by customers advanced 88 places to 28th among 189 countries in the world bank ’ s doing business survey 2016. bis central bankers ’ speeches 4. innovations in the payment systems and the integration of it systems have increased efficiency in the payments, clearing, and settlement systems. these innovations include : the real time gross settlements ( rtgs ) systems that allow settlements in real time ; full automation of the clearing house and other improvements – cheques that took 21 days to clear some 10 years ago can now be cleared in just two days. mobile payments have ballooned and account for over 80 percent of the number of payment transactions. the introduction of internet banking has enabled the central government, ministries and counties to reduce their paperwork and make payments in an efficient manner from far - flung locations. 5. the cbk continues to support the national treasury manage its accounts. in conjunction with the national treasury, the government bond programme has been revitalised and the debt portfolio skewed to the current ratio of 78 percent bonds and 22 percent bills. it is against the background of appreciation of these achievements that we started our journey in september 2015, toward our golden jubilee celebrations. the events over the last year have been anchored on the youth, in recognition of their key role in our nation ’ s growth and great expectations. subsequently, the cbk launched and supported initiatives targeted at em

innovation, build strong banks and partnerships in the banking industry to ensure a stable financial sector in the country. strong banks can weather shocks more easily. strong banks will support economic growth. ladies and gentlemen, i wish to conclude by congratulating fina bank for opening the ngong road branch and to assure the board and management of fina bank of the central bank ’ s support in your growth initiatives and progression. with these few remarks ladies and gentlemen, it is now my honour and pleasure to declare fina bank – ngong road branch – officially open. thank you and god bless you all.