The Central Bank of Kenya is pushing for policy guidelines that will enhance the regulatory framework of branchless banking.

This the bank says has been formed out of the increasing Information Communication and Technology based banking services that continues to be made available for customers.

According to Mr Cassian Nyanjua, an assistant director banking supervision at the bank, new regulations are also supposed to enhance the stability and safety.

“We will continue to develop appropriate policy, legal regulatory and supervisory regimes to govern the conduct of branchless banking, which involves use of ICT and ICT enabled services,” said Mr Nyanjwa

Internet banking and Mobile money transfer services are fast taking root in Kenya as a result of their efficiency and convenient usage.

However, their applications are still clouded by regulatory mishaps that might threaten their existence.