[kictanet] CBK lacks tech savvy team to survey local lenders

[Mwendwa Kivuva]

http://www.nation.co.ke/business/CBK-lacks-tech-savvy-team-to-survey-local-lenders/-/996/3178888/-/438fkcz/-/index.html

The Central Bank of Kenya’s (CBK) unit charged with supervising lenders
lacks a tech savvy team to watch over transactions amid a confidence crisis
after the collapse of three banks, Parliament was told Tuesday.

Gerald Nyaoma, head of bank supervision department, told MPs that his unit
lacks the expertise to audit banks’ Information Technology (IT)
systems—which rogue and greedy directors have exploited to lend themselves
billions of shillings of depositors’ funds, breaching banking regulations.

“I acknowledge the key role that ICT experts would play at the department
and this is the advice I personally gave the governor (CBK head Patrick
Njoroge),” said Mr Nyaoma.

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Mwendwa Kivuva, Nairobi, Kenya
twitter.com/lordmwesh
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