Banking Circular No. 2 of 2020 - Activation of Precautionary Measures to Ensure Business Continuity and Mitigate Pandemic Risk

UU YA
KENYA
Haile Selassie Avenue P.O. Box 60000 - 00200 Nairobi, Kenya Telephone: 2860000, Fax: 340192 March 25, 2020 BANKING CIRCULAR NO. 2 OF 2020 TO ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS, MICROFINANCE BANKS AND MORTGAGE FINANCE COMPANIES:
ACTIVATION OF PRECAUTIONARY MEASURES TO ENSURE BUSINESS CONTINUITY AND MITIGATE PANDEMIC RISK In light of the novel Coronavirus (Covid-19) pandemic, the Central Bank of Kenya (CBK) advises all institutions to immediately activate their precautionary measures to ensure continuity of operations while mitigating the pandemic risk. These measures include:- .

Putting in place alternate teams (Blue and Red) in all business areas.

Creation of redundant teams for all critical functions and ensuring that the teams are .

facilitated to undertake the requisite functions.

Ensure alternate/recovery sites are in ready mode with recovery facilities including all .

the necessary backup power generation and supply.

In addition, institutions should review and update their Business Continuity Plans (BCP) to ensure continuity of operations while mitigating the pandemic risk. Institutions should immediately report to CBK activation/invocation of their BCPs and any incident relating to the pandemic affecting their staff members and/or premises. The reports should be made through email, fin@centralbank.go.ke.

Yours faithfully,

asma GERALD NYAOMA
DIRECTOR, BANK SUPERVISION

Cc.:

Mr. Habil Olaka Chief Executive Officer Kenya Bankers Association International Life House, Mama Ngina Street NAIROBI.

Ms. Carol Karanja Ag. Chief Executive Officer Association of Microfinance Institutions of Kenya (AMFI-Kenya) Methodist Ministries Centre, 181 Floor, Right Wing P.O. Box 10701-00100 NAIROBI