2019-02-28 | 113414645

Kenya Banking Sector Charter-2019

The Banking Sector Charter (BSC) issued by the Central Bank of Kenya (CBK) outlines standards for institutions conducting banking, financial, and mortgage finance business in Kenya. The charter aims to increase access to affordable banking services, develop a resilient financial system, enhance financial literacy, and ensure fair and transparent practices. Institutions must implement risk-based credit scoring, improve data analytics, and disclose product terms and pricing. Compliance includes submitting plans and quarterly reports to the CBK, with penalties for non-compliance. The charter is effective from March 1, 2019.

Kenya

Central Bank of Kenya

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