2014-04-16

MICROFINANCE ACT 2006

The Microfinance Act, 2006 of Kenya outlines regulations for microfinance businesses, including licensing, governance, and supervision by the Central Bank. It defines key terms, sets capital requirements, and outlines prohibited activities. The Act also details the process for inspections, reporting, and penalties for non-compliance. Additionally, it establishes a Deposit Protection Fund to safeguard customer deposits in the event of institutional insolvency.

Kenya

Central Bank of Kenya

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