CBK hunts for inspectors to fortify supervisory unit

The Central Bank of Kenya (CBK) is scouting for additional bank inspectors in an attempt to boost its supervisory role in the financial sector and restore depositors’ confidence in the industry.

The move comes in the wake of increased pressure on the part of the regulator on its effectiveness to rein in on fraud in Kenya’s financial institutions after two commercial banks went under receivership in under six months over financial irregularities.

CBK is now seeking three senior bank examiners/analysts to lead teams that will be conducting surveillance and examination of operations on banking and non-banking institutions.

In an advert appearing in sections of the media, CBK further stated that it is seeking to fill the spots of five bank examiners to carry out “on-site examination and off-site surveillance of assigned banking and non-banking institutions”.

The regulator is also seeking to increase capacity in its cyber-crimes unit through the recruitment of information system auditors.

CBK has found itself in the centre of a storm particularly after the collapse of Dubai Bank and Imperial Bank with both the banks shareholders and depositors pointing an accusing finger at CBK.

Imperial Bank chairman Alnashir Popat on Tuesday accused external auditors and official of the Central Bank of benefiting from the theft of Sh34 billion, the revelation of which led to the bank being placed under receivership.