Banking Sector Stories

KBA warns 24 banks at risk of closure over proposed core capital increase
Lucy Mumbi  |  Nov 28, 2024

The debate surrounding the proposed core capital increase and the role of banks in supporting MSMEs continues to draw scrutiny from both lawmakers and...

Kenya's mobile money transactions hit record Sh6.5 trillion
Maureen Kinyanjui  |  Nov 19, 2024

Airtel's policy change allowed users to receive funds directly into their e-wallets without being compelled to withdraw within a week or risk having t...

Banks urged to tone down use of jargon to enhance performance
Alfred Onyango  |  Sep 28, 2024

Economic analyst Mihr Thakar argues that the use of jargon may significantly hinder business performance.

What benchmark US Fed rate cut means for Kenya's economy and consumers
Alfred Onyango  |  Sep 19, 2024

Apex banks globally use the interest rates as either a gas pedal or a brake on the economy when needed.

Financial inclusion: Ruto praises Islamic Banking's role in Kenyan economy
Abdirahman Khalif  |  Jul 31, 2024

The President expressed satisfaction that the proceeds from the Linzi Sukuk issuance will be used for financing, designing, constructing, and commissi...

Banks given 3 years to comply with Sh10bn capital threshold
Alfred Onyango  |  Jun 24, 2024

The goal is to strengthen the banking sector's resilience and increasebanks' capacity to finance large-scale projects, Treasury Cabinet Secretary Njug...

How table banking is transforming women's lives in Kwale County
Mishi Gongo  |  May 19, 2024

Kisanduku has offered a lifeline for many women living in the rural parts of Kwale County.

Ruto: Hustler fund to have Shariah-compliant component for Muslims
Eastleigh Voice Reporter  |  Apr 09, 2024

Muslim leaders had earlier expressed concerns that the Hustler fund is not Muslim friendly.

Why Kenya is focusing on banks as it tightens laws to stop money laundering
The Conversation  |  Mar 30, 2024

Banks offer a gateway into the financial system. Once the funds are in the financial system, it is easier to disguise their illegal origin.

Museveni inaugurates Uganda's first-ever licenced Islamic Bank
Abdirahman Khalif  |  Mar 28, 2024

President Museveni underscored the transformative potential of Islamic banking in improving Uganda's financial sector while also attracting Muslim inv...

New franchises boost banking sector's growth in Mombasa
Farhiya Hussein  |  Mar 24, 2024

The banking sector in Mombasa is experiencing gradual growth with the arrival of new franchises expanding across the Port City.

Absa Bank Kenya opens flagship La Riba Branch at BBS Mall, Eastleigh
Lucy Mumbi  |  Feb 16, 2024

The new branch offers a range of services including transactional accounts, savings accounts, Mudharabah deposit accounts, and Shari’ah-compliant inve...

Number of ATMs falls to 11-year low as digital banking takes over
Ibrahim Omar  |  Feb 04, 2024

CBK last year granted Safaricom, Telkom and Airtel approvals to increase the daily money transaction and account limits.

Banks in Eastleigh in new push to entice women with interest-free loans
Abdirahman Khalif  |  Oct 27, 2023

Amina Hassan, a middle-aged woman who spoke to the Eastleigh Voice, said women are disadvantaged when it comes to running businesses as they lack capi...

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