ADVOKS GLOBAL · KENYA
The Central Bank of Kenya (Mortgage Refinance Companies) Regulations, 2019
3. Authorized activities
Edition: 2022-12-31 · In force
3. Authorized activities
(1)A mortgage refinance company shall engage in the following activities—(a)refinancing or purchasing of eligible mortgage loans;(b)investment in debt securities issued by the Government of Kenya or any guaranteed debt;(c)providing fully secured long term financing to primary mortgage lenders for financing of eligible mortgages;(d)issuing bonds, notes and other financial instruments for purposes of meeting its objectives; and(e)other activities as may be determined by the Bank from time to time.(2)Any person who contravenes the provisions of this regulation commits an offence and is liable, on conviction to a fine not exceeding five hundred thousand shillings, or to imprisonment for a term not exceeding three years, or to both.