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THE ESTABLISHMENT OF A DEPOSIT-TAKING MICROFINANCE BANKING INSTITUTION IN KENYA

THE ESTABLISHMENT OF A DEPOSIT-TAKING MICROFINANCE BANKING INSTITUTION IN KENYA Introduction The banking and finance sector in Kenya has seen tremendous changes since the advent of the Microfinance Act, 2006. The government and the business community saw the need for having the sector regulated so that there is ready access to other forms of credit...

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REGULATING CRYPTO-ASSETS: A CURSORY REVIEW OF THE CAPITAL MARKETS (AMENDMENT BILL) 2022

REGULATING CRYPTO-ASSETS: A CURSORY REVIEW OF THE CAPITAL MARKETS (AMENDMENT BILL) 2022 Not so recently, technocrats devised a new digital payment system anchored on blockchain technology. Names such as Changpeng Zhao, Sam Bankman-Fried, and Brian Armstrong are spoken off highly in the Forbes Billionaires list for the huge strides made in the volatile world of...

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Digital Service Providers in Kenya Now Regulated By the Central Bank of Kenya

COMPLY OR SHUT DOWN! NEW REGULATIONS FOR NON-DEPOSIT-TAKING MICROFINANCE INSTITUTIONS. The Microfinance Act Number 19 of 2006 had for a long time had to stretch its wings wide enough to address the interests of both the Deposit and Non-deposit taking Microfinance institutions. However, the Central Bank of Kenya; the Key player in the statute and...

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PERFECT MARKET: The Science of Negotiable Instruments.

Take, for example, Simon has done some online writing for Peter and upon the day of collecting his payment, he is handed down a paper/document to present before the Finance Department of the organization at a later date in order to get his money, of which he agrees. So, will that document suffice as an...

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Saved By the Bell? An Essential Focus on The Central Bank of Kenya (Digital Credit Providers) Regulations, 2022

“Bwana P, mueleze ndugu yako Bwana X alipe deni lake alilokopa kutoka Tala” “Mr P, kindly inform your brother Mr X to repay the loan advanced to him from Tala.” Were you irritated when you received a call and the caller uttered these words? Well, loans from digital credit providers have caused flummoxing effects on...

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