Central Bank of Kenya to reassess supervision following bank collapses

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Central Bank of Kenya

The Central Bank of Kenya is planning to overhaul its supervision of the banking sector, as it puts licensing of new banks on hold.

With immediate effect, the central bank "placed a moratorium on the licensing of new commercial banks until further notice," it says in a statement. However, this does not affect cases relating to resolution, amalgamation and acquisition of banks.

The announcement, dated November 17, reflects the central bank's need to "strengthen its supervision of the financial

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