Banks considered high risk will be required to pay higher premiums to the Kenya Deposit Insurance Corporation (KDIC) to avert bank failures. The corporation’s chief executive officer Mohamud Mohamud told the Star that KDIC is planning to introduce risk based premiums as it moves from being a liquidator to a risk minimiser. Kenya Commercial Bank bid to take over the bank was accepted in December by KDIC and CBK. KDIC has liquidated 25 banks, concluding compensation for eight banks. Another 17 are at different stages of the compensation process, including Chase, Imperial and Trust banks.

Source: The Star February 18, 2019 03:11 UTC