The Banking Act Cap 488 in Kenya

(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 proper discharge of its functions under this Act. (2) The information required to be furnished...

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 information within the period specified in this Part or the relevant direction or within such...

(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he thinks fit, any information furnished to it or him under this Act: Provided that the information so furnished shall not be published if it would disclose the financial affairs...

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 customers operating such accounts, and shall update this register on an annual basis. (2) A bank or...

(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 institution and its agencies and of their books, accounts and records. (2) When an inspection is made...

(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 of the persons managing or controlling institutions. (2) An assessment under subsection (1) shall be...

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 current form constitute an impediment to the discharge of the Central Bank’s supervisory...

(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 or of any regulations made thereunder or in any manner detrimental to or not in the best interests...

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 manner detrimental to or not in the best interests of its depositors or members of the public, or that...

(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 into force of this Act, prescribe regulations setting out conditions for deposits and withdrawals by...

(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 laundering, combating the financing of terrorism and countering proliferation financing purposes by all...

(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 regulation, guideline, rule, direction or instruction issued under the said Act or under section 33D...

(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 including an obligation to pay any depositor; (b) if a petition is filed, or a resolution...

(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 purposes of subsection (1) shall be in the prescribed form. (3) The Central Bank may, upon receipt of an...

(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 effect as the appointment of a liquidator by the High Court under Part VI of the Insolvency Act (Cap....

(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 unable to pay its debts; and (b) the administration order is reasonably likely to achieve at least...

(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 the hearing of an application made under subsection (1), the High Court may either dismiss the...

(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, to the extent to which the person is able to comply with it; (b) obstructs or hinders such a...

(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 of the creditors and depositors of the institution under liquidation. (2) The right of assignment...

(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 propose to transact banking or financial business in Kenya but which proposes and applies in writing...

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 subsection (1) is the sum of the following— (a) the principal owing when the loan becomes...

(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 Act, the application for such approval shall be submitted through the Central Bank

(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 holiday, he may by notice in the Gazette, declare that day to be a bank holiday for all banks, or for...

(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 the depositors of an institution, make an order— (a) prohibiting the institution from carrying on...

(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 compounds with his creditors; or (b) is convicted of an offence involving dishonesty or fraud;...

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 thousand shillings; and (b) every officer of that institution or person shall be guilty of an offence...

(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 accuracy and correctness of any statement submitted under this Act or any other written law applicable to...