RegAlertConsultation · CBK · 10 Mar 2025
Draft Banking Fees Regulations 2025
The Banking (Fees) (Amendment) Regulations, 2025 establish fees based on an institution's gross annual revenue, defined to include interest, fees, dividends, and foreign exchange income. Fees are calculated using the audited financial statements of the preceding year and must be paid before licensing and annually within fifteen days of the audited statement's publication. The schedule sets compliance rates at 0.6% for December 31, 2025, rising to 0.8% in 2026 and 1.0% from 2027 onwards, while representative office fees are fixed at Ksh.5,000 for applications and Ksh.20,000 for annual grants. These regulations revoke the Banking (Fees) (Amendment) Regulations, 1994, and prohibit the Bank from charging any other fees under the Banking Act.
C2: CBK - Official
THE BANKING ACT (Cap. 488)
THE BANKING (FEES) REGULATIONS
[Legal Notice ……….. of 2025]
- These Regulations may be cited as the Banking (Fees) (Amendment) Regulations, 2025,
and shall come into operation upon publication in the Gazette. - The fees payable shall be determined based on the gross annual revenue of an institution.
- For the purposes of these Regulations, gross annual revenue includes income from interest
on loans, advances, government securities and placements, income on fees and commissions on loans and advances, dividend income, foreign exchange trading income, and any other income. - The gross annual revenue shall be determined on the basis of the audited financial
statement of an institution of the year immediately preceding the year for which the annual fee is payable. - The fees specified in the Schedule shall be payable prior to the granting of a licence to an
institution to carry on business under the Act and on annual basis no later than fifteen days after publication of the audited financial statement of an institution. - Except as provided for in these Regulations, the Bank shall not charge any other fees
under the Banking Act. - The Banking (Fees) (Amendment) Regulations, 1994 (LN. 188/1994) are revoked.
2
C2: CBK - Official
SCHEDULE
[r. 3]
Compliance Date Gross Annual Revenue
(per centum)
December 31, 2025* 0.6
December 31, 2026 0.8
December 31, 2027 1.0
December 31 of each succeeding year 1.0
*Assumes that the proposed license fees increase Regulations will be approved by the National Assembly in 2025.
8. Fees relating to a representative office shall be as follows:
(a) On application for an authority to establish a representative office …………………………………………………………...........Ksh.5,000. (b) On granting of an authority to a representative office and each anniversary thereof …………………………………………….…………………. Ksh.20,000. Made on the ……………………………………. 2025 DR. KAMAU THUGGE, CBS Governor, Central Bank of Kenya CENTRAL BANK OF KENYA MARCH, 2025
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- Obligation 2
- Definition / condition 13
- background, boilerplate
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- Supersedes
- Banking (Fees) (Amendment) Regulations, 1994 (LN. 188/1994)Not in RegAlert
“The Banking (Fees) (Amendment) Regulations, 1994 (LN. 188/1994) are revoked.”
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