ADVOKS GLOBAL · KENYA
Microfinance Act
18. Insider lending
Edition: 2024-12-27 · In force
18. Insider lending
(1)No institution shall grant a loan or credit facility to its associate, or to an officer or member of staff of the institution, or their associates, in excess of such limits as the Central Bank may, by regulations, prescribe.(2)Any person who contravenes the provisions of this section commits an offence and shall be liable, on conviction, to a fine not exceeding one hundred thousand shillings, or to imprisonment for a term not exceeding three years, or to both.