China Financial Daily

Kenya, the first 4 months this year, remittances fell 15% year-on-year revenue
Xinhua Nairobi, May 27 (Xinhua, Liu Ying) East Africa’s largest economies of the Central Bank of Kenya released the latest data show that this year, 1-4 months, Kenya remittances 1.9637 billion U.S. dollars of income for the same period last year of 2.3152 billion million reduction of 15%. Data show that in April this year, Kenya remittances income 48.12 million U.S. dollars, than in April 2008 of 67.87 million U.S. dollars dropped by 29%. Kenya remittances is the main source of foreign exchange earnings. Last year, the inflow of remittances in Kenya for the 611.2 million U.S. dollars. By the global economic downturn as a result of the impact of remittances in Kenya this year, revenue is expected to be substantially reduced. Western Europe and North America in the work of Kenyans are an important source of remittances in Kenya, but the global financial crisis led to economic hardship in Europe and America, in Europe and the United States the work of Kenyans have also been affected to varying degrees, they either reduced to the domestic remittances, or choose to return to Kenya.

Kenya, the number of bank accounts jumped nearly 3 years
Xinhua Nairobi, May 25 (Xinhua, Liu Ying) of the Central Bank of Kenya governor Njuguna Tengku Nunn said on the 25th, as banks reduce costs, the last 3 years the number of bank accounts in Kenya increased significantly. Ndong ancient capital of Nairobi in Kenya, said a meeting, the current number of bank accounts in Kenya from 3 years ago 2.3 million to 6.4 million. He said that the bank lowered the threshold of the funds required to open an account, but also reduced the cost of account maintenance, which promoted the increase in the number of bank accounts.

Kenya to introduce mobile financial services laws and regulations
Xinhua Nairobi, May 26 (Xinhua, Liu Ying) said Minister of Finance of Kenya Jomo Kenyatta, as the mobile financial services and other new products have emerged, Kenya introduced a number of new laws intended to regulate the mobile phone banking services, in order to strengthen the financial sector management. Kenyatta in Nairobi on the 25th at a meeting said that modern technologies such as mobile operators to provide financial services greatly enhanced the living standards of the majority of the poor in Kenya, but the new technology opportunities and challenges at the same time. Kenyatta said that these services are the financial sector as a whole must be a reasonable legal framework the role of innovation and there is a need to find a balance between regulation