Virtual Pay Internaltion has been granted an operation license to offer financial services in Kenya.
The license from the Central Bank of Kenya (CBK) allows Virtual Pay to offer its payment processing services of merchants, local and international services in the country.
“We are humbled by the
Kenyans are at high risk of losing money through banking fraud owing to mobile banking that has grown from a mere 14 per cent in 2009 to 84 per cent in 2022.
In a report released on August 4, 2022 by the Central Bank of
The Central Bank of Kenya (CBK) okayed Egyptian bank Banque Misr S.A.E. to establish a representative office in Kenya.
The bank is wholly owned by the government of Egypt and is currently the second largest commercial bank in the country by asset size and market share.
The Central Bank of Kenya (CBK) is widely expected to lift its benchmark lending rate again when it holds its Monetary Policy Committee (MPC) meeting on July 27, 2022.
The expectations on the reserve bank’s monetary stance are largely anchored on prevailing high inflation which in
The Central Bank of Kenya (CBK) now seeks powers to regulate the fastest-growing Super Applications, better known as Super Apps due to hefty transactions they are handling on daily basis.
In Kenya, Safaricom launched its M-Pesa Super App in June 2021.
Other popular Super Apps recognised globally
Kenya now seeks Ksh.75 billion infrastructure bond that has been set for June this year.
The June bond has a maturing period of 18 months and will be on sale to investors starting May 23, 2022, till June 7, 2022.
According to the Central Bank of Kenya
A prominent Nakuru businessman is seeking intervention in a matter involving the theft of over Khs.10 million from his bank accounts by an employee of a leading financial institution.
In a petition to the Central Bank of Kenya (CBK) and the Kenya Bankers Association (KBA), Francis
Following the gazettement of the Central Bank of Kenya (CBK) Regulations, Digital lenders will now be obliged to provide information on their source of funds beginning September 18, 2022.
“A digital credit provider shall provide to the Bank the evidence and sources of funds invested in
The Treasury raised Ksh.33.1 billion from the sale of the three-year bond, falling short of the Ksh.40 billion targets.
The paper was auctioned alongside a 15-year bond, which is still available until April 19, 2022, a longer-term note which aims to raise Ksh.30 billion.
The Central Bank
Digital lenders are now required to notify loan defaulters a month prior, before presenting their names to the Credit Reference Bureau (CRB).
This comes after changes were made to the Consumer Protection Act which saw the Central Bank of Kenya (CBK) become an overseer of all-digital