Regulatory Alerts2016-10-25
Banking Circular No 5 of 2009 - KEPSS rules & procedures – KEPSS operating schedule
In response to the introduction of Kenya Electronic Payment and Settlement System (KEPSS) in 2005, Central Bank has decided to extend KEPSS window times. Starting from July 1st, Window 1 will operate from 8:30 am to 3 pm, Window 2 will be open from 3 pm to 4:30 pm with the system shutting down at 5 pm. However, banks can choose to extend their working hours up to 6 pm as per existing KEPSS rules and procedures. This move aims to improve banking services for customers by extending business hours.
CENTRAL BANKI BANK OF KUU YA KENYA KENYA Haile Selassie / P. O. Box 60000 - 00200 Nairobi K Telephone: 2860000 Telex: 22 June 11, 2009 BANKING CIRCULAR NO.5 OF 2009 To: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS KEPSS RULES AND PROCEDURES - KEPSS OPERATING SCHEDULE Since the introduction of Kenya Electronic Payment and Settlement System (KEPSS) in 2005 we have observed the need for banks to serve their customers better by extending business hours. In this regard, the Central Bank has considered it necessary to extend the KEPSS window times as follows:- a) Window l: Will now operate from 8.30 am to 3pm b) Window 2: Will be open from 3pm to 4.30pm The system will be shut down at 5.00 pm. However, window extensions shall be c) up to 6.00 pm and will be subject to the existing KEPSS rules and procedures.
The extended window times will take effect from 1st July 2009.
NYAOMA DIRECTOR, BANKING SERVICES DEPARTMENT