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Banking Act, 1989 🇰🇪


REPUBLIC OF KENYA

Banking Act, 1989

Act 9 of 1989

  • Assented to on 13 September 1989
  • Commenced on 1 November 1989
  • [This is the version of this document from 1 November 1989.]
An Act of Parliament to amend and consolidate the Law regulating the business of banking in Kenya and for connected purposes.

Part I – PRELIMINARY

1. Short title

This Act may be cited as the Banking Act.

2. Interpretation

(1)In this Act, unless the context otherwise requires—"agency" means an entity contracted by an institution and approved by the Central Bank or sub-contracted by such entity to provide the services of the institution on behalf of the institution, in such manner as may be prescribed by the Central Bank:Provided that where such entity is a co-operative society, prior approval to provide the services shall be sought from the Sacco Societies Regulatory Authority established under the SACCO Societies Act, 2008 (No. 14 of 2008);"assigned capital" has the meaning given to it in section 7(4);"bank" means a company w…

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