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Bankers association pilots mediation centre

06 June 2014, 08:46

Nairobi - The Kenya Bankers Association (KBA) has partnered with the Strathmore Law School’s Dispute Resolution Centre (SDRC) to host the Banking Industry Mediation Centre pilot. 

The six-month project will include complimentary access to trained, practicing mediators during the months of June, July and August.

Barclays, Equity Bank, Family Bank, Housing Finance, and Gulf African Bank volunteered to participate.

“We are very excited about this programme which reinforces the banking industry’s commitment to maintain client relationships while seeking to reach amicable agreements whenever disputes arise,” said Habil Olaka, KBA Chief Executive Officer. 

“We sincerely thank the banks that stepped up and offered their support because they recognise the value of ADR,” said Olaka.

“We also are pleased that the regulators which are particularly keen to promote consumer protection within the financial services sector, namely Central Bank of Kenya and Competition Authority of Kenya, as well as other stakeholders including Consumer Federation of Kenya, are on board to guide the process. With their involvement and feedback from customers, we expect to provide policy proposals that will enhance dispute management and consumer protection within the financial services sector,” he said.

Olaka added that the mediation process would not infringe on the consumers’ constitutional right to commence legal action in the appropriate court; however, considering the fact that it typically takes five years for banking-related cases to be resolved in court, and legal fees can be as high as KSh 500 000 KSh 1 million both customers and banks would see the value of the complimentary service that is being provided at the Banking Industry Mediation Centre. 

 – CAJ News

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