2023-09-14

Banking Circular No. 8 of 2023 - Compliance with Banking Act and Central Bank of Kenya Prudential Guidelines

This circular serves as a reminder to all Chief Executives of Commercial Banks and Mortgage Finance Companies in Kenya to ensure full compliance with the Banking Act, CBK Prudential Guidelines, regulations, and directives. Non-compliance may lead to enforcement action according to the Banking Act. The Central Bank of Kenya has identified various non-compliance issues, including corporate governance, risk classification of assets, provisioning, outsourcing, and unapproved charges for banking services. CBK's mandate is to foster financial stability through its regulation and supervision of banking business.

Kenya

Central Bank of Kenya

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