CBK to get increased regulatory powers

Under proposed changes, the Central Bank of Kenya will have additional powers to monitor and regulate the banking industry. The ministry of finance will transfer banking licensing, regulation and disciplinary authority to the CBK, the East African Standard reported.

The reforms are aimed at enhancing private savings, investment and designed to lower interest rate levels and spreads, the report said.

The reforms will also address poor governance and strengthen market structure by establishing a new

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