Regulatory Alerts2025-04-01
Added · Updated
Kenya Deposit Insurance Act Cap 487C
The Parliament of Kenya enacted the Kenya Deposit Insurance Act, Cap 487C, to establish a comprehensive deposit insurance system and create the Kenya Deposit Insurance Corporation (KDIC). This Act mandates the KDIC to manage the Deposit Insurance Fund, collect contributions from member institutions, and provide protection for depositors' funds up to a specified amount. It further empowers the KDIC to act as receiver and liquidator for non-viable deposit-taking institutions, ensuring financial stability and depositor confidence within the Kenyan banking sector.
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