Regional banking regulation: The challenges and opportunities of a single currency for the East African community integration

The East African Community (EAC) is not at rest with the struggle for regional financial integration. The regional bloc has made efforts towards this dream by signing treaties and several protocols, including the 2013 Protocol on the Establishment of EAC Monetary Union, which birthed the idea of the EAC single currency. However, the implementation of said protocol is still a dream, even though it has now been a decade since it was signed. This paper aims to examine the nexus between the implementation of the EAC single currency goal and the region’s integration, specifically insofar as banking regulation is concerned. The study is based on a doctrinal methodology involving analysis of both treaties, statutes, and other scholarly literature. The findings reveal that EAC's success in implementing the single currency will deepen regional banking regulation and strengthen the economic integration of the bloc.