Absa Bank

KDIC appeals court ruling regarding Ksh215 million premiums refund to Absa

The Kenya Deposit Insurance Corporation (KDIC) has intensified its dispute with Absa Bank Kenya regarding a KSh215 million refund claim made by the bank, concerning purported over payments in statutory deposit protection fund premiums. The lender listed on the Nairobi Securities Exchange (NSE), filed a legal action against KDIC on October 14, 2023, requesting a…

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PS says Sacco fund to protect depositors underway

By Malachi Motano The government is in the process of implementing the Savings and credit co-operative societies (Saccos) deposit guarantee fund to insulate depositors from unforeseen eventualities. “We are finalising the National Cooperative Policy that will allow the creation of the Sacco Deposit Guarantee Fund (SDGF), a scheme which will provide protection to Sacco deposits….

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