2009-12-18

Banking Circular No 11 of 2009 - Disclosure of Deposits to Deposit Protection Fund Board

This circular highlights the importance of accurately disclosing all deposit products to the Deposit Protection Fund Board (DPFB) for adequate protection and cover under the Banking Act. Starting from January 1, 2010, commercial banks, non-bank financial institutions, mortgage finance companies, and deposit-taking microfinance institutions must include various types of deposits such as foreign currency deposits and transaction accounts in their monthly returns to DPFB for insurance premium assessment. However, inter-bank placements will not be included in the return when determining protected deposits cover.

Kenya

Central Bank of Kenya

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