3.1: Alignment with NIFC

Measurement
Implementation Committee together with other relevant authorities should establish a process for monitoring progress in international rankings. Implementation Committee to monitor progress in relation to each of the criteria used, agree action plans to address them and engage with MSCI and Z/Yen to ensure progress is recognised.
Working Group
Achievement

Development of a self-assessment tool for the purpose of achieving the MSCI ranking has been initiated.
Shadow ranking indices identified, Barclays index, JP Morgan index and Islamic Finance Index.
The JP Morgan Emerging Market Bond Index (EMBI) that is widely used and comprehensive emerging market sovereign debt benchmarks. It is a benchmark index for measuring the total return performance of international government bonds issued by emerging market countries that are considered sovereign (issued in something other than local currency) and that meet specific liquidity and structural requirements.

Bloomberg Barclays Global Aggregate index is a flagship measure of global investment grade debt from 24 local currency markets. This multi-currency benchmarks includes treasury, government-related, corporate and securitized fixed-rate bonds from both developed and emerging markets issuers.
The indices are complementary to each other.

The Authority has also been participating in the process of enhancing Kenya Doing Business Ranking. Kenya was ranked position 92 in 2017 up from position 113 in 2016.

Status
In Progress
Measurement
CMA to discuss with National Treasury how to effect CMA's joining NIFC Steering Committee in order to ensure full alignment of both NIFC and CMMP work programmes under Vision 2030.
Working Group
Achievement

The NIFC Act provides for CMA to be a member of the Steering Committee. In addition, the Nairobi International Financial Act, was developed and gazetted on 3rd August 2017.

Status
Completed

Key

No Progress
Behind Schedule
Ahead of Schedule