Mohamud Ahmed Mohamud has been reappointed as the chief executive of Kenya Deposit Insurance Corporation (KDIC).
National Treasury Cabinet Secretary Ukur Yattani ratified the board’s decision to renew the CEO’s contract in a letter addressed to the corporation’s chairman James Lopoyetum.
Mr Mohamud’s first three-year term ends on February 9.
KDIC has the powers to guarantee deposits of insured institutions, carry out supervision, solve problems in banks and liquidate failed financial institutions.
This helps to promote the stability and build confidence in Kenya’s financial system.
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