2020-03-28 | 1728424177

Banking Circular No. 5 of 2020 - Issuance of a Guidance Note on Pandemic Planning for the Banking Sector

The Central Bank of Kenya has issued a circular to commercial banks, microfinance banks, and mortgage finance companies, providing guidance on pandemic planning in response to the COVID-19 outbreak. The Guidance Note supplements existing business continuity plans, focusing on social disruption caused by pandemics, and sets minimum standards for resilient frameworks to address pandemic risks in the banking sector. Institutions are required to update their plans, formulate response strategies, conduct self-risk assessments, and notify the CBK of any pandemic incidents.

Kenya

Central Bank of Kenya

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