Regulatory Alerts2025-04-01
Added · Updated
The Kenya Deposit Insurance Act, CAP 487C
The Kenya Deposit Insurance Act establishes the Kenya Deposit Insurance Corporation to manage a deposit insurance scheme and handle the receivership and liquidation of troubled financial institutions to maintain systemic stability. The Act empowers the Corporation to levy contributions for the Deposit Insurance Fund, conduct special examinations of institutions, and serve as a receiver or liquidator to resolve insolvency cases efficiently. It further specifies the Corporation's operational autonomy, administrative structure, and comprehensive enforcement powers, including the authority to override prior agreements and initiate prompt corrective actions to protect depositors.
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