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CBK revokes Chase Bank licence, kick starts winding up

CBK revokes Chase Bank licence, kick starts winding up
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Patrick njorogeMahmoud mohamedKenya deposit insurance corporationCentral bankChase bankBanking actChase bank limitedபேட்ரிக் ஞ்சோறொகேமஹ்மூத் மொஹாமெட்கேந்ய வைப்பு காப்பீடு நிறுவனம்மைய வங்கிதுரத்து வங்கிவங்கி நாடகம்

CBK approves liquidation of Chase Bank assests in final bow

CBK approves liquidation of Chase Bank assests in final bow Shares The Central Bank of Kenya (CBK) has approved the liquidation of the assets of Chase Bank which were left out in the SBM Bank takeover. Chase Bank was placed under receivership on April 7, 2016, under the Kenya Deposits Insurance Corporation (KDIC). CBK has consequently instructed the Kenya Deposit Insurance Corporation (KDIC) to start the liquidation of the remaining assets, with an aim to salvage money for customers with more than Ksh. 100,000 in the bank. A statement from CBK said, “On April 7, 2021, KDIC submitted the receiver’s report to CBK recommending that Chase Bank in receivership be liquidated. The report indicates that considering the weak status of Chase’s financial position, liquidation is the only feasible option.”

During the chase bankKenya deposit insurance corporationCentral bankKenya deposits insurance corporationChase bankகேந்ய வைப்பு காப்பீடு நிறுவனம்மைய வங்கிதுரத்து வங்கி

CBK okays liquidation of Chase Bank

CBK okays liquidation of Chase Bank Friday April 16 2021 Chase Bank on Mama Ngina Street in Nairobi on April 7,2016, after it was placed under statutory management. file photo | nmg By PATRICK ALUSHULA The Central Bank of Kenya (CBK) has approved the liquidation of the assets of Chase Bank under receivership that was left out in the SBM Bank buyout two years ago. The regulator on Friday instructed the Kenya Deposit Insurance Corporation (KDIC) to start the liquidation of the remaining assets, in an exercise that is meant to salvage some money for customers who had more than Sh100,000 in the bank.

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DPF reports seamless progress despite limitations of Covid-19

April 6, 2021 Written by John Musinguzi DPF Staff front row (L-R): Joseph Luboyera, Justine Komugisha, Julia Clare Olima Oyet, Peter Mugisa. Back row (L-R): Hashim Kirungi, Moses Tamale, Balaam Ssempala, Moses Apell Odongo and Felix R. Nsiimoomwe The Deposit Protection Fund of Uganda (DPF) is in celebratory mood after releasing its highly favourable annual financial report for year ending June 30, 2020. This was in spite of the Covid-19 disruptions to economic activity in the third quarter, writes JOHN MUSINGUZI. The 98-page report was officially released and uploaded on the website on February 23, 2021. It is a comprehensive expose on the three-year-old autonomous agency’s mandate, structure, financial performance over the reporting period and the ge

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KDIC boss to head African unit of deposit insurers lobby

KDIC boss to head African unit of deposit insurers lobby Monday March 15 2021 By BONFACE OTIENO The Kenya Deposit Insurance Corporation (KDIC) chief executive Mohamud Ahmed Mohamud has been appointed the new chairperson and President of the Africa Regional Committee of the International Association of Deposit Insurers (IADI). The appointment for the rotational post, whose occupants serve for a period of two years, takes effect immediately. Mr Mohamud takes over from Nigeria’s Deposit Insurance Corporation (NDIC) chief executive Umaru Ibrahim, who had succeeded former Deposit Protection Corporation of Zimbabwe CEO John Chikura in September 2018. “This is a big honour for the East Africa region and Kenya to be specific,” Mr Mohamud told the

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