ADVOKS GLOBAL · KENYA
Central Bank of Kenya Act
33Y. Powers of the Bank
Edition: 2026-07-24 · In force
33Y. Powers of the Bank
The Bank shall have the following powers with respect to the regulation of credit guarantee companies—(a)to issue, suspend or revoke licenses to carry on credit guarantee business;(b)to determine the capital adequacy standards and related requirements for credit guarantee companies;(c)to prescribe the minimum liquidity requirements for credit guarantee companies;(d)to prescribe permissible and prohibited activities for credit guarantee companies;(e)to supervise credit guarantee companies, including by—(i)conducting on-site and off-site supervision;(ii)assessing professional and moral suitability of persons managing or controlling credit guarantee companies;(iii)approving the Board and management of the credit guarantee companies;(iv)approving the appointment of the external auditors;(v)regularly collecting data from credit guarantee companies;(vi)approving the annual audited accounts of credit guarantee companies before publication and presentation at annual general meetings;(vii)certifying significant shareholders as fit and proper persons;(f)to direct or require such changes as the Bank may consider necessary;(g)to impose administrative or monetary sanctions;(h)to prescribe, through Regulations, requirements relating to—(ii)corporate governance;(v)shareholder obligations;(vi)operational requirements;(vii)supervisory reporting obligations;(x)anti-money laundering, combating the financing of terrorism and countering proliferation financing purposes;(xi)pricing parameters; and(xii)reporting and oversight by the Bank; and(i)exercise such other powers with respect to the regulation of credit guarantee companies and credit guarantee business as are consistent with the provisions of this Part.