Kenya has spared small and weaker banks from paying increased premiums to the deposit insurance fund for one year amid Covid-19 pandemic that has adversely affected the cash flow positions of both regional and global lenders.
As part of measures to support the economy and the banking industry during this difficult period caused by Covid-19 impact, the Kenya Deposit Insurance Corporation (KDIC) has suspended the implementation of the risk-based premium model by one year and gave banks a six-month grace period to pay their annual premiums.
