The Banking Act CAP 488▤
Restrictions on dividends
(1) No institution incorporated in Kenya shall pay any dividend on its shares or make any other form of distribution to its shareh…
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71 results · The Banking Act CAP 488
The Banking Act CAP 488▤
Minimum liquid assets
(1) An institution shall maintain such minimum holding of liquid assets as the Central Bank may from time to time determine. (2) F…
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The Banking Act CAP 488▤
Ratio between capital and assets
(1) The Central Bank may prescribe the minimum ratios which shall be maintained by institutions and banking groups as between thei…
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The Banking Act CAP 488▤
Ratio between core capital and deposits
The core capital of an institution shall at all times be not less than eight per cent of its total deposit liabilities.
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The Banking Act CAP 488▤
Imposition of charges and payment of interest
(1) No institution shall impose any form of charges on a savings, seven day call or fixed deposits account. (2) An institution sha…
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The Banking Act CAP 488▤
Restrictions on deposit-taking
(1) Subject to this section, no person, other than an institution which holds a valid licence or a duly approved agency conducting…
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The Banking Act CAP 488▤
Mortgage finance companies
(1) A mortgage finance company shall make loans— (a) for the purpose of the acquisition, construction, improvement, development, a…
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The Banking Act CAP 488▤
Restrictions on advances for purchase of land
(1) No institution, other than a mortgage finance company, shall make loans or advances for the purchase, improvement or alteratio…
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The Banking Act CAP 488▤
Restrictions on ownership of share capital of an institution
(1) No person other than— (a) another institution; (b) the Government of Kenya or the Government of a foreign sovereign State; (c)…
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The Banking Act CAP 488▤
Restriction on trading and investments
An institution shall not— (a) engage, alone or with others, in wholesale or retail trade, including the import or export trade, ex…
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The Banking Act CAP 488▤
Restrictions on advances, credits and guarantees
(1) An institution shall not in Kenya— (a) grant or permit to be outstanding any advance or credit facility against the security o…
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The Banking Act CAP 488▤
Limit on advances, credits and guarantees
(1) An institution shall not in Kenya grant to any person or permit to be outstanding any advance or credit facility or give any f…
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The Banking Act CAP 488▤
Directors, Chief Executive Officers and significant shareholders to be fit and proper persons
(1) An institution shall ensure that no person is appointed or elected as a director or appointed as a senior officer unless the C…
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The Banking Act CAP 488▤
Amalgamations and transfers of assets and liabilities
(1) No amalgamation or arrangement which involves an institution as one of the principal parties to the relevant transaction, and…
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The Banking Act CAP 488▤
Branches and subsidiaries
(1) No institution shall open a branch or establish a subsidiary outside Kenya, except with the prior approval of the Cabinet Secr…
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The Banking Act CAP 488▤
Location of places of business
(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…
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The Banking Act CAP 488▤
Minimum capital requirements
(1) A licence shall not be granted to an institution unless the institution meets the minimum capital requirements specified in th…
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The Banking Act CAP 488▤
Revocation of licence
(1) The Central Bank may, by notice in writing to the institution, revoke a licence if the institution— (a) ceases to carry on bus…
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The Banking Act CAP 488▤
Licensing of institutions
(1) Subject to section 4, the Central Bank may, upon payment of the prescribed fee, grant a licence to an institution to carry on…
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The Banking Act CAP 488▤
Application for licence
(1) Every institution intending to transact banking business, financial business or the business of a mortgage finance company in…
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The Banking Act CAP 488▤
Restrictions on carrying on banking business, etc.
(1) No person shall in Kenya— (a) transact any banking business or financial business or the business of a mortgage finance compan…
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The Banking Act CAP 488▤
Interpretation
(1) In this Act, unless the context otherwise requires— "agency" means an entity contracted by an institution and approved by the…
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The Banking Act CAP 488▤
Short title
This Act may be cited as the Banking Act.
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