Markets regulator, KIDC restart talks on bonds cushion
Tuesday May 04 2021
By CONSTANT MUNDA
The Capital Markets Authority (CMA) has entered fresh talks with the Kenya Deposit Insurance Corporation (KIDC) and the Central Bank of Kenya (CBK) to end the stalemate on plans to compensate bondholders if a bank goes bust.
The capital markets regulator said on Monday talks on amending the Deposit Insurance Act to allow for such reimbursements are now “progressing well” after a two-year deadlock.
The proposed legal changes, the CMA reiterated, are aimed at ensuring “investments by retail and institutional investors through corporate bonds are separated from customer deposits and other bank liabilities in instances where a financially distressed bank has issued a corporate bond”.
CMA, deposits insurer in bondholders cash limbo
Summary
The capital markets regulator has since 2019 been seeking the support of KDIC and the Central Bank of Kenya (CBK) to amend the deposit protection law to have cash invested in banks by fund managers through instruments like bonds are separated from customer deposits and other bank liabilities.
Monday May 03 2021
By CONSTANT MUNDA
Summary
The capital markets regulator has since 2019 been seeking the support of KDIC and the Central Bank of Kenya (CBK) to amend the deposit protection law to have cash invested in banks by fund managers through instruments like bonds are separated from customer deposits and other bank liabilities.
Four counties rush to get infrastructure bond issue approval
Summary
CMA director for regulatory policy and strategy Luke Ombara said Kisumu, Bungoma, Laikipia and Makueni have started the journey towards getting clearance to raise cash from investors for development projects.
The Constitution allows counties to borrow from the capital markets and foreign sources with clearance from the National Treasury.
Friday April 30 2021
Summary
CMA director for regulatory policy and strategy Luke Ombara said Kisumu, Bungoma, Laikipia and Makueni have started the journey towards getting clearance to raise cash from investors for development projects.
The Constitution allows counties to borrow from the capital markets and foreign sources with clearance from the National Treasury.
Shares
The Angaza Awards; Women to Watch in Banking and Finance program has unveiled its list of Top 10 women who are steering and shaping the financial services sector. The list was compiled after a four-month entry period which saw professionals from Kenya, Rwanda, South Sudan, Tanzania and Uganda submit applications.
The Kenyan Wallstreet, a financial news media company partnered with Kaleidoscope Consultants in an effort to raise awareness of seasoned women who are shaping and influencing the sector through their organizations.
The Angaza Award criteria included an assessment of the applicants’ area of responsibility and contribution to firm performance. Professionals in Banking, Capital Markets, Insurance, Investment Banking, Fintech, Fund Management, Microfinance, and SACCOs were invited to submit their applications or nominations via the Kenyan Wallstreet Award Web page.