From CapeNews.Net By ELIZABETH W. SAITO August 8, 2014 Forty years ago today, President Richard M.
(amended through 2010)
The Banking Act regulates the activities of banking institutions in Kenya. This edition of the Banking Act incorporates amendments up to January 1, 2010, including amendments in 2009 to permit banks to appoint agents to take deposits and perform other activities. This act covers the following topics:
- Licensing of institutions;
- Prohibited business;
- Reserves and dividends;
- Accounts and audit;
- Information and reporting requirements;
- Inspection and control of institutions;
- Deposit protection fund;
- Representative offices of foreign institutions; and
- Miscellaneous provisions.