, has been at the fore - front of pushing the financial inclusion agenda. the support we have received from the bill and melinda gates foundation and afi has been enormous on these initiatives. 7. the critical mandate of the central bank is to ensure that the financial sector is stable, efficient and accessible. in this regard, the central bank of kenya, jointly with other players, has undertaken several initiatives and reforms aimed at boosting bis central bankers ’ speeches financial inclusion through an appropriate financial infrastructure that includes : licensing of deposit taking microfinance institutions ( dtms ) and credit reference bureaus ( crbs ) ; mobile phone financial services and the agency banking model. 8. ladies and gentlemen ; these initiatives and reforms have led to notable improvements in the levels, reach and depth of access to financial services especially among the lower population segments. the results in terms of numbers are astounding with deposit accounts growing tremendously over the years. but such a vibrant sector requires to be safeguarded ; that is why financial integrity becomes important. financial integrity 9. ladies and gentlemen ; success in financial inclusion has to go hand in hand with financial integrity. the central bank of kenya continually seeks to enhance the regulation and supervision of the financial system in order to improve its integrity. as part of our efforts in ensuring appropriate and effective oversight, we first issued aml guidelines in 2000. these guidelines were revised in 2006 and are currently in the process of being reviewed to reflect the prevailing international best practice and to align them with the proceeds of crime and anti - money laundering act, 2009 ( pocamla ). 10. over the last 2 years, the central bank has issued regular aml / cft guidelines to financial institutions to further support and enhance the implementation of the proceeds of crime and anti - money laundering act, 2009 ( pocamla ). the guidelines have covered the operationalization of the aml act, suspicious transaction reporting, and measures to be adopted by financial institutions to combat the financing of terrorism. the central bank has also revised the forex bureau guidelines so as to align these guidelines to the aml act. we are also working on hawala system to formalize and issued guidelines. on the microfinance front, the microfinance regulations and the agency guidelines require deposit taking microfinance institutions and their agents to implement aml / cft measures. 11. these measures demonstrate that as we push the frontiers of financial inclusion, we are also taking the requisite steps to ensure that the measures put in

place take into account the need to safeguard the integrity of the financial system. 12. in november 2011, parliament enacted the national payments system act. this act provides cbk with oversight of the national payments system. it aims to bring all payment service providers including mobile phone service providers offering money transfer services, within one regulatory framework. going forward, the inclusion of these mobile phone service providers within the supervisory and regulatory scope of cbk will no doubt enhance the country ’ s aml / cft measures. 13. it is my hope therefore, that this conference and the initiative being launched by the financial services volunteer corps will contribute to a greater understanding of the subject and will generate frontier ideas of enforcing and enhancing aml / cft measures. 14. it is now my pleasure to invite the permanent secretary, ministry of finance, bw. joseph kinyua, to officially open this conference. thank you bis central bankers ’ speeches