Central Bank Governor Dr. Kamau Thugge defended the proposed regulations when he appeared before the National Assembly's Delegated Legislation Committee.
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Among the primary concerns raised by the association is the proposed increase of the core capital requirement for microfinance banks to Ksh 250 million within five years.
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The Government has stepped up efforts to promote fair, transparent and responsible digital lending.
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Central Bank of Kenya Licenses 42 More Digital Credit Providers, Total Number Now At 195 (Full List)
CBK revealed that it has received more than 800 applications since March 2022 and has worked closely with the applicants in reviewing their applications.
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The reduced interest rates will comprise a revised Equity Bank Reference Rate (EBRR) of 14.39% plus a margin (based on specific customer risk profile).
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The 2024 FinAccess Household Survey Report has revealed that financial inclusion in Kenya has seen a slight improvement. Eighty-four per cent of the adult population now has access to financial services, up from 83.7 per cent in 2021. Meanwhile, the report,
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In a statement on his verified social media pages, Rotich denied his administration having multiple bank accounts.
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While responding to the members of the joint committee, the nominee said that he had moved a lot in many departments of the Central Bank, along the way he had trained a lot of staffers to take his responsibilities after
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