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CMA approves regulatory policy to guide fintech companies - 3 weeks ago, 14:12

Julie Owino

, NAIROBI, Kenya, Mar 26 – The Board of the Capital Markets Authority has approved the Regulatory Sandbox Policy Guidance Note as CMA begins accepting applications for admission of fintech firms to its Regulatory Sandbox.

CMA Chief Executive Paul Muthaura said the Sandbox will help accelerate CMA’s knowledge on emerging technologies, support adoption of an evidence-based approach on regulating and facilitating Kenya’s Capital Markets.

“We welcome fintech firms and innovators to apply for admission to the Regulatory Sandbox. Where they are successful, they will have a 12-month period to deploy and conduct live-tests of their innovative products, solutions and services,” CMA Chief Executive Paul Muthaura said.

The Sandbox Participants will be required to comply with certain minimum regulatory requirements prescribed by law that CMA will then evaluate on the regulatory requirements to be temporarily modified during a sandbox.

The authority then provides guidance where it finds an innovation already exists in the market.

Upon exit ...
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