Kenya could raise cushion on savers’ deposits to $5,000
A Chase Bank branch in Nairobi. Kenya is proposing a larger monetary cushion for depositors with more than Ksh100,000 ($1,000) in commercial banks that collapse. FILE. PHOTO | NMG
Kenya is seeking to instil confidence in the financial sector by proposing a larger monetary cushion for depositors with more than Ksh100,000 ($1,000) in commercial banks that collapse.
Since the late 1980s, Kenya has been compensating depositors of failed institutions up to a maximum of Ksh100,000 ($1,000).
