Regulatory Alerts2015-12-14
Added · Updated
Banking Circular No 13 of 2015 - Compliance with Sections 4 and 9A of Banking Act - Vetting of Directors and Senior Officers
The Central Bank of Kenya (CBK) has expressed concern over institutions appointing directors and senior officers before they are vetted and certified by the bank, which is a mandatory requirement according to Section 9A(1) of the Banking Act. Violations will result in penalties including disqualification from the banking sector, as directed by Director of Bank Supervision Gerald Nyaoma.
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