ADVOKS GLOBAL · KENYA
Central Bank of Kenya Act
33S. Licensing
Edition: 2026-07-24 · In force
33S. Licensing
(1)A person shall not carry on any non-deposit-taking credit business unless that person has been licensed by the Bank under this Act or is permitted to do so under any other written law.(2)An application for a license under subsection (1) shall be made to the Bank in such form and shall be accompanied by such information and fee as may be prescribed.(3)An application under subsection (2) shall be accompanied by—(b)a certified copy of the applicant’s memorandum and articles of association;(c)a notification of the company’s registered address;(f)such other documents as may be prescribed by the Bank.(4)Without prejudice to subsection (3)(e), a non-deposit-taking credit provider shall provide terms and conditions applicable to the credit which shall accepted by the borrower.(5)The Bank may grant or reject an application for a licence by written notice addressed to the applicant within sixty days from the date of receipt of an application.(6)A licence granted under this section shall remain valid unless suspended or revoked by the Bank in accordance with this Act, but upon expiry of the prescribed period may be renewed.(7)The Bank may suspend or revoke a licence by written notice to the holder of the licence, if —(a)the licensee does not meet the conditions prescribed by the Bank;(c)the licensee is found to have given false information during the application;(d)the licensee goes into liquidation or an order for winding up is issued;(e)the carries out activities outside the scope of the licensed activities;(f)the licensee is in breach of any of the provisions of this Act and the regulations made thereto relating to non-deposit-taking credit business;(g)the licensee fails to conclusively address a customer’s complaint within the time and in the manner prescribed by the Bank under this Act or as the Bank may direct;(h)the licensee fails to comply with a directive of the Bank; or(i)the licensee imposes unreasonable or unjustifiable charges on the loan.(8)Without prejudice to subsection (6), an applicant may apply for renewal of the licence at least three months before expiry of the licence.(9)The Bank shall cause to be published in the Gazette and the Bank’s website—(a)before the thirtieth day of March in each year, the names and addresses of all licenced non-deposit-taking credit providers under this section;(b)within thirty days of suspension or revocation of a license, the name and address of the non-deposit-taking credit providers whose licences have been suspended or revoked.(10)A person who contravenes the provisions of this section commits an offence and shall be liable upon conviction to imprisonment for a term not exceeding three years or to a fine not exceeding five million shillings or to both.