The Central Bank of Kenya has set out to have Banks appoint qualified and professionally suitable entities as their agents in the wake of the growing networks of agency banking in the country.

The Central Bank of Kenya (CBK) released revised Prudential Guidelines and Risk Management Guidelines for institutions licensed under the Banking Act for stakeholder and public comments which are still under review.

In the guidelines, under Agency banking, the bank seeks that for Banks to appoint agents across the country they must establish their ability to be in business and sustain the agent station. Additionally the guidelines state they will check:

"Moral and professional suitability of sole proprietors, partners and officers licensed to run agency banking. In the case of a corporate entity, the institution shall assess the moral, business and professional suitability of the Chief Executive Officer and the officer in charge of or responsible for agent banking operations of the entity. "

Most banks in the country have rolled out agency banking services in a bid to exploit the potential of unbanked people especially in the rural areas.