The Central Bank of Kenya Has licensed Maisha Microfinance Bank to carry out community based microfinance, making it the thirteenth microfinance bank to receive the green light after eight nationwide and four community based banks. According to the CBK, the licensing will encourage innovation, competition and increased outreach which is in line with the regulators mandate to enhance financial inclusion and promote economic growth in Kenya. Maisha MFB is a Kenyan-owned company limited by shares. It intends to commence operations in Nairobi County with an objective of expanding across the country with time. Other institutions Licenced to operate as microfinance banks in the country include Faulu Kenya, Kenya Women, SMEP, REMU, Rafiki Dtm, Century Mfb, Sumac and Caritas Micro Finance Bank. The four community-based micro finance banks include Uwezo Mfb, U&I, Daraja Mfb and Choice microfinance.