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Kenya Deposit Insurance Corporation CEO Mohamud Ahmed Mohamud during an interview with the Standard. [Beverlyne Musili/Standard]
Banks will soon be required to write their own wills, explaining how their assets will be disposed of in case of failure in their business.
This is part of the measures being taken by financial regulators, including Central Bank of Kenya (CBK) and the Kenya Deposit Insurance Corporation (KDIC), to ensure insolvent banks do not stay for long with depositors’ cash.
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