Section 5 of The Banking Act CAP 488: Licensing of institutions

(1) The Central Bank may, by notice in writing to the institution, revoke a licence if the institution— (a) ceases to carry on business in Kenya or goes into liquidation or is wound up or is...

(1) A licence shall not be granted to an institution unless the institution meets the minimum capital requirements specified in the Second Schedule. (2) The Cabinet Secretary may, by order published...

(1) No institution shall open in Kenya a branch or a new place of business or change the location of a branch or an existing place of business in Kenya without the approval of the Central Bank. (2)...

(1) No institution shall open a branch or establish a subsidiary outside Kenya, except with the prior approval of the Cabinet Secretary. (2) An institution seeking approval under subsection (1) shall...

(1) No amalgamation or arrangement which involves an institution as one of the principal parties to the relevant transaction, and no arrangement for the transfer of all or any part of the assets and...

(1) An institution shall ensure that no person is appointed or elected as a director or appointed as a senior officer unless the Central Bank has certified the person as a fit and proper person to...

(1) An institution shall not in Kenya grant to any person or permit to be outstanding any advance or credit facility or give any financial guarantee or incur any other liability on behalf of any...

(1) An institution shall not in Kenya— (a) grant or permit to be outstanding any advance or credit facility against the security of its own shares; or (b) grant or permit to be outstanding any...

An institution shall not— (a) engage, alone or with others, in wholesale or retail trade, including the import or export trade, except in the course of the satisfaction of debts due to it; and any...

(1) No person other than— (a) another institution; (b) the Government of Kenya or the Government of a foreign sovereign State; (c) a State corporation within the meaning of the State Corporations...

(1) No institution, other than a mortgage finance company, shall make loans or advances for the purchase, improvement or alteration of land, so that the aggregate amount of those loans or advances...

(1) A mortgage finance company shall make loans— (a) for the purpose of the acquisition, construction, improvement, development, alteration or adaptation for a particular purpose of land in Kenya;...

(1) Subject to this section, no person, other than an institution which holds a valid licence or a duly approved agency conducting banking business on behalf of an institution, shall invite or accept...

(1) No institution shall impose any form of charges on a savings, seven day call or fixed deposits account. (2) An institution shall, in respect of a savings account, pay interest accruing or a...

The core capital of an institution shall at all times be not less than eight per cent of its total deposit liabilities.

(1) The Central Bank may prescribe the minimum ratios which shall be maintained by institutions and banking groups as between their core capital and total capital on one hand and their risk-weighted...

(1) An institution shall maintain such minimum holding of liquid assets as the Central Bank may from time to time determine. (2) For the purpose of this section, "liquid assets" means all or any of...

(1) No institution incorporated in Kenya shall pay any dividend on its shares or make any other form of distribution to its shareholders until all its capitalized expenditure (including preliminary...

(1) The financial year of every institution shall be the period of twelve months ending on the 31st December in each year. (2) Where the financial year of an institution is different from that...

(1) All entries in any books and all accounts kept by an institution shall be recorded and kept in the English language, using the system of numerals employed in Government accounts. (2) The Central...

(1) Every institution shall— (a) exhibit throughout the year in a conspicuous position in every office and branch in Kenya’ a copy of its last audited financial statements which shall be in...

(1) An institution shall, not later than three months after the end of its financial year, submit to the Central Bank an audited balance sheet, showing its assets and liabilities in Kenya, and an...

(1) Subject to subsection (7), every institution shall appoint annually an auditor (within the meaning of section 3(1) of the Companies Act (Cap. 486)) and approved by the Central Bank. (1A) An...

(1) No institution shall remove or change its auditor except with the prior written approval of the Central Bank. (2) An auditor of an institution shall forthwith give written notice to the Central...

(1) No duty to which an auditor of an institution may be subject shall be regarded as contravened by reason of his communicating in good faith to the Central Bank, whether or not in response to a...

The Central Bank shall collect such date and other information as may be necessary to enable it to maintain supervision and surveillance of the affairs of institutions or their duly authorised...

(1) The Central Bank may require any institution and their agencies to furnish to it, at such time and in such manner as it may direct, such information as the Central Bank may reasonably require for...

The Cabinet Secretary may require the Central Bank or an institution to furnish to him, at such time and in such manner as he may direct, such information as the Cabinet Secretary may require.

Where the Central Bank or an institution is required to furnish information under this Part, it shall furnish that information and any supplemental material that may be required as a result of that...

(1) The Central Bank or the Cabinet Secretary may publish in whole or in part, at such times and in such manner as it or he thinks fit, any information furnished to it or him under this Act: Provided...

A bank or financial institution shall, before granting a loan to a borrower disclose all the charges and terms relating to the loan

(1) A bank or financial institution licensed under this Act shall, in respect of all accounts operated at the institution, maintain a register containing particulars of the next of kin of all...

(1) The Central Bank may, at any time and from time to time, and shall, if so directed by the Cabinet Secretary, cause an inspection to be made by any person authorised by it, in writing, of any...

(1) Notwithstanding any other provisions of this Act, the Central Bank may, from time to time, where it deems it necessary to do so, carry out an assessment of the professional and moral suitability...

The Central Bank may upon receipt of a report under section 32(5)— (a) require changes to the legal or management structure of a group or banking group if it determines that such structures in their...

(1) If, at any time, the Central Bank has reason to believe that— (a) the business of an institution is being conducted in a manner contrary to or not in compliance with the requirements of this Act...

Where an auditor's report under section 24(4) or an inspection report under this Part reveals that an institution conducts its business in a manner contrary to the provisions of this Act, or in any...

(1) The Central Bank shall prescribe, in regulations, conditions on deposits or withdrawals by customers in banks and financial institution. (2) The Central Bank shall within thirty days of coming...

(1) Pursuant to sections 2A, 36A, 36B and 36C of the Proceeds of Crime and Anti-Money Laundering Act (Cap. 59A), the Central Bank shall regulate, supervise and enforce compliance for anti-money...

(1) No institution, director, officer, employer, agent or any other person shall violate or fail to comply with any provision of the Proceeds of Crime and Anti-Money Laundering Act (Cap. 59A), or any...

(1) This section applies, and the powers conferred by subsection (2) may be exercised, in the following circumstances— (a) if the institution fails to meet any financial obligation, when it falls due...

(1) An institution may, with the approval of the Central Bank, voluntarily liquidate itself if it is able to meet all its liabilities. (2) An application for the Central Bank’s approval for the...

(1) If satisfied on reasonable grounds that an institution has become insolvent, the Central Bank may appoint the Board to be a liquidator of the institution. (2) Such an appointment has the same...

(1) The Central Bank may appoint the Board as administrator to manage to manage the institution's affairs and property, but only it is satisfied that— (a) the institution is or is, likely to become...

(1) Any interested person who is dissatisfied with the exercise by the Board of a power conferred on it by section 35 may apply to the High Court for an order or orders under subsection (2). (2) On...

(1) A person who— (a) refuses or fails to comply with a requirement of a liquidator appointed under section 35, or of an administrator appointed under section 35B, that is applicable to the person,...

(1) The liquidator may assign the assets or liabilities of an institution or of a customer under this Act, the Insolvency Act (Cap. 53), or under any other written law to third parties for the benefit...

(1) The Central Bank may, in writing and subject to such conditions as the Central Bank may consider necessary, authorize a bank or a financial institution incorporated outside Kenya which does not...

No institution shall increase its rate of banking or other charges except with the prior approval of the Cabinet Secretary.

(1) An institution shall be limited in what it may recover from a debtor with respect to a nonperforming loan to the maximum amount under subsection (2). (2) The maximum amount referred to in...