In a TV interview, Gachagua claimed that powerful individuals had taken control of forex flow through commercial banks and that the CBK had inadequate forex reserves. He has previously led the President William Ruto-led Kenya Kwanza chorus on state capture, including against banking interests associated with the family of former President Uhuru Kenyatta. [Photo/ @Rigathi]

CBK Reacts to Gachagua’s Market-Shaking ‘No Forex Reserves’ Comment

The Central Bank of Kenya (CBK) was forced to issue a statement around half an hour past midnight on Monday, October 3, after...

MARTIN SIELE2 Mins read

Digital credit services will be required to disclose interest rates, late payment and rollover fees before issuing the loans. [Photo: REUTERS/Thomas Mukoya]

BUSINESS ECONOMY SMART BUSINESS

New Rules for Loan Apps as CBK Sets Compliance Deadline

Digital lenders will be required to comply with a raft of new licensing provisions by August 2022 as the Central Bank of Kenya...

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The bill was informed by widespread complaints on the unregulated nature of many mobile loan services and the documented exploitative practices of some of the companies

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What New Mobile Loans Bill Means For You

The National Assembly Finance and Planning Committee has approved the state-backed Central Bank Amendment Bill 2021, a proposed law which seeks to bring...

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CBK Opens New Offshoot in Kisii

President Uhuru Kenyatta on Wednesday presided over the opening of the Central Bank of Kenya (CBK) Kisii Centre which is expected to offer...

Samuel Gitonga1 Mins read

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Kenya Joins Global Players in Push For Tighter Regulation of BigFintech

Kenya has thrown its weight behind a push by global players to have regulations governing large financial technology firms tightened amid concerns that...

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Banks Get CBK Greenlight to Blacklist Loan Defaulters

Banks were on Wednesday handed back the powers to recommend customers who default on their loans for blacklisting at Credit Reference Bureaus (CRBs)...

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FEATURED ARTICLE

CBK Extends Free Mobile Transactions Below Sh1,000 to End Year

The Central Bank of Kenya (CBK) on Wednesday extended the directive to Payment Service Providers (PSPs) to keep mobile money transactions below Ksh1,000...

Samuel Gitonga1 Mins read