The Sacco Societies Regulatory Authority (SASRA) is a statutory state corporation established under the Sacco Societies Act (Cap 490B) of the Laws of Kenya (the Act) which came into full operation upon the gazettement of the Sacco Societies (Deposit-taking Sacco Business) Regulations, 2010 (the Regulations 2010) on 18th June 2010.
The principal mandate of the Authority under the Act has been to license Sacco Societies to undertake deposit-taking Sacco business in Kenya (popularly known as Front Office Service Activity or FOSA) and to supervise and regulate such Sacco Societies in Kenya among other things.
Key roles of the authority include:
- Assessing their Membership
- Closely monitoring their Financial performance
- Financial soundness and stability of the DT-SACCO system
- Their Liquidity
- Their Deposits
- SACCOs’ Contribution to financial access and inclusion
- Policy developments
The SACCO Societies Regulatory Authority (SASRA) is the body that regulates Mwalimu National.
Mwalimu National operates under the regulations issued by the SACCO Societies Regulatory Authority (SASRA) which regulates deposit-taking SACCOs.