Business & Economy3 stories from 2 sources
The National Treasury is reportedly hesitant to approve an increase in the bank deposit guarantee from the current Sh500,000 to Sh1 million per customer, causing uncertainty for depositors. Members of Parliament have given the Financial Inclusion Fund (Hustler Fund) 14 days to publicly disclose the names of loan defaulters due to increasing concerns over unpaid loans. Separately, Standard Chartered Bank is set to auction assets of the collapsed retail chain Nakumatt Holdings after the firm defaulted on loans exceeding Sh1.6 billion.
The National Treasury is reportedly hesitant to approve an increase in the bank deposit guarantee from the current Sh500,000 to Sh1 million per customer, causing uncertainty for depositors.
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