Section 18 of The Banking Act CAP 488: Ratio between capital and assets

(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...

(1) The Cabinet Secretary shall consult with the Central Bank in the exercise of his functions under this Act. (2) Where the approval of the Cabinet Secretary is required under any provision of this...

(1) Where the Cabinet Secretary considers that it is in the public interest that banks, or a particular bank, or a particular branch of a bank, should remain closed on a day which is not a public...

(1) The High Court, on application made ex parte by the Cabinet Secretary or, where a manager or liquidator has been appointed by the Central Bank, may, if it considers it to be in the interests of...

(1) A person who is an officer of an institution shall cease to hold office and shall not thereafter be eligible to hold office in any institution if he— (a) becomes bankrupt or suspends payment or...

Where any institution or other person contravenes any of the provisions of this Act— (a) if it is a body corporate, it shall be guilty of an offence and liable to a fine not exceeding one hundred...

(1) Any officer of an institution who— (a) fails to take all reasonable steps to secure the compliance of the institution with this Act; or (b) fails to take all reasonable steps to secure the...

(1) Any institution or other person who issues any advertisement, brochure, circular or other document inviting any person to make a deposit which— (a) falsely represents that he is authorized to...

(1) For the avoidance of doubt, no contravention of the provisions of this Act or the Central Bank of Kenya Act (Cap. 491) shall affect or invalidate in any way any contractual obligation between an...

(1) Subject to subsection (2), where there is a conflict between the provisions of this Act and the provisions of any other written law applicable to an institution licensed under this Act, the...

(1) The Cabinet Secretary may, by notice in the Gazette, exempt an institution from the provisions of section 12, 13 or 14 subject to such conditions as the Cabinet Secretary considers necessary. (2)...

(1) This Act does not apply to— (a) the Kenya Post Office Savings Bank established under the Kenya Post Office Savings Bank Act (Cap. 493B); (b) the Agricultural Finance Corporation established...

All persons subject to this Act shall enjoy all rights and fundamental freedoms enshrined in the Constitution unless limited to the extent specified in Article 24 of the Constitution, this Act or any...

(1) The right to privacy guaranteed under Article 31 of the Constitution is hereby limited under Article 24 of the Constitution only to the nature and extent contemplated under subsection (2). (2)...

(1) The Central Bank may make regulations generally for carrying out the purposes and provisions of this Act. (2) Without prejudice to the generality of subsection (1), the Central Bank may, in...

(1) The Banking Act (No. 56 of 1968) is repealed. (2) Notwithstanding subsection (1), whereupon the commencement of this Act any bank or financial institution is licensed to transact banking business...

The several written laws specified in the first column of the Second Schedule are amended, in relation to the provisions thereof specified in the second column, in the manner specified in the third...