EAC deposit insurers to harmonise rules to fix troubled banks
Imperial Bank depositors protest outside the bank’s headquarters in Nairobi, in October 2016. EAC member states are working on joint rules and regulations to rescue troubled banks. PHOTO | NMG
East African Community member states are working on joint rules and regulations to rescue troubled banks, as part of measures to enhance the stability of the sector in the region.
The region’s deposit insurers started by sharing information on best practices as a first step to merging the rules and regulations governing the protection of depositors’ cash in the region.
