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New law to see depositors of collapsed banks get more cash

Tellers serving customers in a banking hall. (Photo: Wilberforce Okwiri, Standard)

Depositors will soon start enjoying increased cover on their money should lending institutions collapse. 

According to Kenya Deposit Insurance Corporation (KDIC) Acting Chief Executive Mohamud Ahmed, the agency is about to get approval to raise the deposit insurance cover from the current figure of Sh100,000.

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