Govt Gives Directive to New Banks After Lifting 9-Year Ban
submitted 8 months ago by Samuelwriter_ke
submitted 8 months ago by Samuelwriter_ke
- The Central Bank of Kenya has lifted the temporary suspension on licensing new banks in the country, which was put in place due to challenges in the banking sector.
- This decision was made after improvements in the legal and regulatory framework, mergers of banks, and the entry of foreign investors, with new banks now needing to meet a minimum capital requirement of Ksh10 billion to enter the market.
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