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SASRA will not be absorbed by the recently formed Financial Services Authority

http://bdafrica.com
The savings and credit co-operative societies’ oversight agency (SASRA) will not be absorbed by the recently formed Financial Services Authoritiy (FSA).
Commissioner of Co-operatives Mary Mungai said a miscellaneous bill was ready for tabling before parliament allowing SASRA to continue executing its oversight role for the over 6,000 credit societies operating in the country.
“Out of the over 6,000 saccos only 172 saccos have complied with the SASRA Act. SASRA will remain but will have its functions strengthened to help saccos abide by the law and thrive across Kenya,” she said.

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