Regulatory Alerts2020-07-01
Added · Updated
Banking Act 2015
The Central Bank of Kenya issued this Act to regulate banking, financial, and mortgage finance operations by mandating licensing, minimum capital requirements, and fit-and-proper management. The legislation restricts unlicensed entities from using banking titles, imposes limits on advances and investments, and establishes a Deposit Protection Fund Board to safeguard public deposits. Furthermore, it grants the Central Bank comprehensive powers to inspect institutions, enforce compliance through directives and interventions, liquidate non-compliant entities, and ensure transparent financial reporting.
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