Central Bank of Kenya

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5h
AllAfrica.com
Consolidated Bank's Rights Issue Flops, Costs It Licenceissue flopped after principal shareholders rescinded their commitment to suppor
Consolidated Bank's Rights Issue Flops, Costs It Licence
AllAfrica.com / Posted 5 hours ago
issue flopped after principal shareholders rescinded their commitment to support the Sh1.8 billion cash call, forcing the Central Bank of Kenya to deny the bank an operating licence. The bank also operated last year without a licence, underlining... Read more
5h
AllAfrica.com
CMA Banks on Islamic Financing to Arrest Interest Rates Law Shocksassented to the Banking (Amendment) Act 2015, which will cap interest rates to
CMA Banks on Islamic Financing to Arrest Interest Rates Law Shocks
AllAfrica.com / Posted 5 hours ago
assented to the Banking (Amendment) Act 2015, which will cap interest rates to not more than four per cent above the Central Bank of Kenya rate. Currently, the CBK rate is at 10.5 per cent, meaning that all loans should not be priced at more... Read more
1d
AllAfrica.com
Kenya's Cap on Interest Rates Could Impact EAC Monetary Unionsaying it would be lending at the new rates immediately. "We advise that pendi
Kenya's Cap on Interest Rates Could Impact EAC Monetary Union
AllAfrica.com / Posted yesterday
saying it would be lending at the new rates immediately. "We advise that pending receipt of full guidelines from the Central Bank of Kenya, particularly on the applicable base rate, all new credit facilities shall be at a rate not exceeding... Read more
1d
AllAfrica.com
Bank of Tanzania Monitors Kenya Move On Interest Ratescaps bank interest rates when President Uhuru Kenyatta assented a Bill capping
Bank of Tanzania Monitors Kenya Move On Interest Rates
AllAfrica.com / Posted yesterday
caps bank interest rates when President Uhuru Kenyatta assented a Bill capping bank interest rates at 4 per cent above the Central Bank of Kenya benchmark rate, currently standing at 10.5 per cent. The law will regulate applicable rates to bank... Read more
2d
AllAfrica.com
Banks Likely to Exploit Flaws in New Rates Lawintended to save customers from exploitation by banks through high interest rat
Banks Likely to Exploit Flaws in New Rates Law
AllAfrica.com / Posted 2 days ago
intended to save customers from exploitation by banks through high interest rates. The Donde Act, otherwise known as, the Central Bank of Kenya (Amendment) Act, 2000, had a retrospective commencement date of January 1, 2001. It also had a... Read more
4d
AllAfrica.com
Consumer Body and Banks Clash Over Bank Interest Ratesbe reduced to no more than four per cent over and above the Central Bank Rate a
Consumer Body and Banks Clash Over Bank Interest Rates
AllAfrica.com / Posted 4 days ago
be reduced to no more than four per cent over and above the Central Bank Rate as soon as it takes effect. "The Central Bank of Kenya or any entity cannot purport to manufacture 'rules' without an amendment by the National Assembly," he... Read more
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4d
AllAfrica.com
Experts See Rising Cost of Fuel Pushing Up CBK Lending RateRising fuel prices and prospects of a base rate increase in the US could push t
Experts See Rising Cost of Fuel Pushing Up CBK Lending Rate
AllAfrica.com / Posted 4 days ago
Rising fuel prices and prospects of a base rate increase in the US could push the Central Bank of Kenya (CBK) to tighten its monetary policy and reverse recent cuts in the base lending rate, analysts at Ecobank say. The Energy Regulatory Commission... Read more
4d
AllAfrica.com
Market Forces to Determine Interest Rates, Govt InsistsUhuru Kenyatta assented to a Bill that caps interest rates to 4 per cent above
Market Forces to Determine Interest Rates, Govt Insists
AllAfrica.com / Posted 4 days ago
Uhuru Kenyatta assented to a Bill that caps interest rates to 4 per cent above the Central Bank Rate (CBR) set by the Central Bank of Kenya. In Uganda, several private sector players have urged the government to intervene in the interest... Read more
4d
AllAfrica.com
Banks Cite Gap in New Interest Rates Capping Actdeposit floor. The Act states that interest rate charged by banks will not exc
Banks Cite Gap in New Interest Rates Capping Act
AllAfrica.com / Posted 4 days ago
deposit floor. The Act states that interest rate charged by banks will not exceed four per cent of the base rate set by Central Bank of Kenya (CBK). "It has been assumed it is the Central Bank Rate (CBR) but CBK may opt to use Kenya Banks... Read more
5d
AllAfrica.com
What the New Interest Rates Law Means to Customersthe Banking (Amendment) Act, interest rates will now be capped at no more than
What the New Interest Rates Law Means to Customers
AllAfrica.com / Posted 5 days ago
the Banking (Amendment) Act, interest rates will now be capped at no more than four percent above the base rate set by the Central Bank of Kenya. The Monetary Policy Committee of the Central Bank sets the CBR, which is currently at 10.5 percent,... Read more
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5d
AllAfrica.com
Banks Unhappy, but Will Comply With Law Capping Interest Ratesdeposit and lending rates," the President added. Earlier this month, KBA prese
Banks Unhappy, but Will Comply With Law Capping Interest Rates
AllAfrica.com / Posted 5 days ago
deposit and lending rates," the President added. Earlier this month, KBA presented a Memorandum of Understanding to the Central Bank of Kenya intended to address the high cost of borrowing locally. The document covered immediate steps and other... Read more
3 related stories
5d
AllAfrica.com
Equity Group Half-Year Earnings Up 18%was under pressure in the face of a high interest rate regime currently averagi
Equity Group Half-Year Earnings Up 18%
AllAfrica.com / Posted 5 days ago
was under pressure in the face of a high interest rate regime currently averaging 17.96 per cent according to data from Central Bank of Kenya. Regional subsidiaries contributed only five per cent of the profit down from eight per cent in a... Read more
6d
AllAfrica.com
COFEK Urges Uhuru to Sign Interest Rates Bill Into Lawmust take its rightful space on banking regulations. "Banks cannot have discre
COFEK Urges Uhuru to Sign Interest Rates Bill Into Law
AllAfrica.com / Posted 6 days ago
must take its rightful space on banking regulations. "Banks cannot have discretion of choosing which laws suits them. Central Bank of Kenya has failed consumers on this front," he said. Mutoro says the recent collapse of several banks... Read more
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8d
AllAfrica.com
Listed Firms Face a Difficult Second Half, Reduced Marginscredit standards in the wake of the government's failure to pay contractors and
Listed Firms Face a Difficult Second Half, Reduced Margins
AllAfrica.com / Posted 8 days ago
credit standards in the wake of the government's failure to pay contractors and suppliers on time. A survey by the Central Bank of Kenya showed that manufacturers have been affected by the challenging business environment while investors in... Read more
8d
AllAfrica.com
KPA Unable to Access Sh3 Billion Deposited in Chase Bankinterest for the billions which have been tied up in the lender's accounts desp
KPA Unable to Access Sh3 Billion Deposited in Chase Bank
AllAfrica.com / Posted 8 days ago
interest for the billions which have been tied up in the lender's accounts despite the bank having reopened its doors. The Central Bank of Kenya (CBK) placed Chase Bank under receivership on April 7, 2016 after it experienced liquidity difficulties... Read more
12d
AllAfrica.com
Weak Banks a Risk to Kenya's Economy, Says CBK Deputy GovernorStrong financial institutions are good for the growth of the country, Central B
Weak Banks a Risk to Kenya's Economy, Says CBK Deputy Governor
AllAfrica.com / Posted 12 days ago
Strong financial institutions are good for the growth of the country, Central Bank of Kenya Deputy Governor Sheila M'Mbijiwe has said. Speaking at the 20th Annual International Conference by the Institute of Certified Public Secretaries of Kenya... Read more
12d
AllAfrica.com
Chase Bank Takes More Steps Towards Full Recoveryat an ATM at the Chase Bank head office branch in Nairobi. Chase Bank has made
Chase Bank Takes More Steps Towards Full Recovery
AllAfrica.com / Posted 12 days ago
at an ATM at the Chase Bank head office branch in Nairobi. Chase Bank has made a big step towards full recovery after the Central Bank of Kenya (CBK) yesterday allowed the financier to resume lending to customers and take fixed deposits after four... Read more
12d
AllAfrica.com
CEO Term Limits ... Good or Bad Idea?taken by RBZ seems to suggest that we may see CEO term limits being imposed on
CEO Term Limits ... Good or Bad Idea?
AllAfrica.com / Posted 12 days ago
taken by RBZ seems to suggest that we may see CEO term limits being imposed on banks in the not too distant future. Central Bank of Kenya (CBK) governor, Patrick Njoroge, recently announced that the CBK will "shortly be issuing a... Read more
14d
AllAfrica.com
Race to Be the Cheaper Lender Attracts More25, HFC will lower its interest rates in line with the 0.97 per cent reduction
Race to Be the Cheaper Lender Attracts More
AllAfrica.com / Posted 14 days ago
25, HFC will lower its interest rates in line with the 0.97 per cent reduction of Kenya Bank's Reference Rate (KBRR) by the Central Bank of Kenya (CBK)," said HFC in a public notice yesterday. Chase Bank, which is under receivership, also made a... Read more
3 related stories
15d
AllAfrica.com
President Kenyatta to Receive Banking (Amendment) Bill 2015sending it back to Parliament. The Bill provides that banks cap their interest
President Kenyatta to Receive Banking (Amendment) Bill 2015
AllAfrica.com / Posted 15 days ago
sending it back to Parliament. The Bill provides that banks cap their interest on loans at no more than four per cent of Central Bank of Kenya base rates. The banks are lobbying against the Bill, which seeks to cap their lending rates and put a... Read more
3 related stories
15d
AllAfrica.com
M-Pesa Diaspora Cash Inflows Hit Sh13.1 BillionM-Pesa platform grew 64 per cent to Sh13.1 billion in the year ended March afte
M-Pesa Diaspora Cash Inflows Hit Sh13.1 Billion
AllAfrica.com / Posted 15 days ago
M-Pesa platform grew 64 per cent to Sh13.1 billion in the year ended March after the telco acquired a license from the Central Bank of Kenya (CBK) to offer outward cash remittances. Safaricom launched M-Pesa services in Tanzania in February... Read more
18d
AllAfrica.com
Banks Issue Proposals for Lowering Rates to Forestall Law— Commercial banks through their umbrella Kenya Bankers Association have presen
Banks Issue Proposals for Lowering Rates to Forestall Law
AllAfrica.com / Posted 18 days ago
— Commercial banks through their umbrella Kenya Bankers Association have presented a Memorandum of Understanding to the Central Bank of Kenya intended to address the high cost of borrowing locally. KBA Chief Executive Officer Habil Olaka, while... Read more
18d
AllAfrica.com
MPs Set Terms for Accepting Banks' Pledge to Lower Interestssentiments follow the presentation of a Memorandum of Understanding by the Keny
MPs Set Terms for Accepting Banks' Pledge to Lower Interests
AllAfrica.com / Posted 18 days ago
sentiments follow the presentation of a Memorandum of Understanding by the Kenya Bankers Association to the Central Bank of Kenya that lists seven steps intended to be taken to cut the high cost of borrowing. "Let them bring that... Read more
18d
AllAfrica.com
Board Absolves Islamic Segment From National Bank's Huge Lossesby violations on corporate governance practices following the fall of two comme
Board Absolves Islamic Segment From National Bank's Huge Losses
AllAfrica.com / Posted 18 days ago
by violations on corporate governance practices following the fall of two commercial banks late last year, the Central Bank of Kenya (CBK) wrote to commercial banks early in the year asking them to scrutinise NPLs carefully and also... Read more
21d
AllAfrica.com
Cost-Cutting Pain Pays Big for Bankspecking order courtesy of these measures. The changes in the fortunes of the le
Cost-Cutting Pain Pays Big for Banks
AllAfrica.com / Posted 21 days ago
pecking order courtesy of these measures. The changes in the fortunes of the lenders are reflected in the ranking by the Central Bank of Kenya annual 2015 supervision report. Experts say the shift in market share rankings also reflect the impact... Read more
21d
AllAfrica.com
As Kenya Prepares to Float a Green Bond, Here's What It Isthen Kenya is bound to receive a lot of investments." The Kenya effort will be
As Kenya Prepares to Float a Green Bond, Here's What It Is
AllAfrica.com / Posted 21 days ago
then Kenya is bound to receive a lot of investments." The Kenya effort will be supported by, among other stakeholders, the Central Bank of Kenya, the Capital Markets Authority and the National Treasury and underpins Vision 2030, Kenya's Green... Read more
24d
AllAfrica.com
CBK Calls for Data On Foreign Assets, Launches 2016 FISNairobi — The Central Bank of Kenya (CBK) has kicked off the Foreign Investment
CBK Calls for Data On Foreign Assets, Launches 2016 FIS
AllAfrica.com / Posted 24 days ago
Nairobi — The Central Bank of Kenya (CBK) has kicked off the Foreign Investment Survey 2016, to be carried out between August and October this year. Speaking during the launch of the survey on Thursday, CBK Governor Patrick Njoroge says the purpose... Read more
25d
AllAfrica.com
State Targets 900 Firms in Survey to Measure External DebtForeign Investment Survey (FIS) 2016 will be jointly conducted by the Kenya Nat
State Targets 900 Firms in Survey to Measure External Debt
AllAfrica.com / Posted 25 days ago
Foreign Investment Survey (FIS) 2016 will be jointly conducted by the Kenya National Bureau of Statistics (KNBS), the Central Bank of Kenya (CBK) and the Kenya Investment Authority (KenInvest). Speaking during its launch Thursday, CBK... Read more
25d
AllAfrica.com
Three Banks Fined Sh3 Million for Failing to Report on NYS ScamThe Central Bank of Kenya slapped three commercial banks with a fine of Sh3 mil
Three Banks Fined Sh3 Million for Failing to Report on NYS Scam
AllAfrica.com / Posted 25 days ago
The Central Bank of Kenya slapped three commercial banks with a fine of Sh3 million in total for failing to report suspicious transactions relating to the Sh791 million NYS scandal, Governor Patrick Njoroge told Parliament yesterday. Dr Njoroge said... Read more
26d
AllAfrica.com
More Women Needed to Hold Top Jobs in Bankshold about 29 per cent of top jobs in the banking sector, showing there is room
More Women Needed to Hold Top Jobs in Banks
AllAfrica.com / Posted 26 days ago
hold about 29 per cent of top jobs in the banking sector, showing there is room for more gender inclusion. A survey by the Central Bank of Kenya (CBK) further shows that women occupied 20 per cent of board positions with only two serving as... Read more
27d
AllAfrica.com
Market Too Small for Govt Borrowing30 percent. And because the loans are short-term, they tend to stress businesse
Market Too Small for Govt Borrowing
AllAfrica.com / Posted 27 days ago
30 percent. And because the loans are short-term, they tend to stress businesses in an already distressed economy. The Central Bank of Kenya has directed commercial banks to reduce their interest rates in line with the benchmark lending rates,... Read more
29d
AllAfrica.com
Raila Urges Uhuru to Honour Jubilee Pledge on Cheap Loansof Trade Unions (Cotu). The Bill provides that banks cap their interest on loa
Raila Urges Uhuru to Honour Jubilee Pledge on Cheap Loans
AllAfrica.com / Posted 29 days ago
of Trade Unions (Cotu). The Bill provides that banks cap their interest on loans at no more than four per cent of Central Bank of Kenya base rates. The President has promised to act in the public interest, pointing out that low interest... Read more
29d
AllAfrica.com
Cardinal Otunga High School Alumni Criticise '85% Local' Form One Intake Ruleproduced some of Kenya's leading captains of industry and politicians, includin
Cardinal Otunga High School Alumni Criticise '85% Local' Form One Intake Rule
AllAfrica.com / Posted 29 days ago
produced some of Kenya's leading captains of industry and politicians, including former Cabinet Secretary Julius Sunkuli, Central Bank of Kenya deputy director Mr Gerald Nyaoma, lawyer Mr Ken Nyaundi and Jomo Kenyatta University of Agriculture and... Read more
m
AllAfrica.com
Banks Fight New Bid to Cap Interest RatesCBR of 10.5 per cent. That would be significantly lower than the current avera
Banks Fight New Bid to Cap Interest Rates
AllAfrica.com / Posted 1 months ago
CBR of 10.5 per cent. That would be significantly lower than the current average lending rate of 18 per cent, as per Central Bank of Kenya (CBK) data. Some borrowers are currently paying as high as 24 per cent for short to medium term... Read more
3 related stories
m
AllAfrica.com
Banks Call on Kenyatta to Dismiss Bill Controlling Interest RatesCBR of 10.5 per cent. That would be significantly different from current avera
Banks Call on Kenyatta to Dismiss Bill Controlling Interest Rates
AllAfrica.com / Posted 1 months ago
CBR of 10.5 per cent. That would be significantly different from current average lending rate of 18 per cent, as per Central Bank of Kenya (CBK) data. Some borrowers are currently paying as high as 24 per cent for short- to medium-term... Read more
3 related stories
m
AllAfrica.com
Central Bank Hires Staff to Check Rogue LendersCentral Bank of Kenya (CBK) has hired 15 new staff members in its supervision d
Central Bank Hires Staff to Check Rogue Lenders
AllAfrica.com / Posted 1 months ago
Central Bank of Kenya (CBK) has hired 15 new staff members in its supervision department in the wake of the recent collapse of three banks. However, the regulator blamed the department's tolerance of poor corporate governance for the banks' collapse... Read more
2 related stories

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