Harambee DT SACCO has written off Sh230.37 million due to unreconciled bank balances and fully impaired Sh42 million deposited with the troubled KUSCCO.

• The write-off of Sh230.37 million pertains to a bankers’ cheque control account lacking sufficient documentation.
• The affected organizations are Harambee DT SACCO and KUSCCO.
• This action highlights the ongoing financial impact of KUSCCO's governance crisis, which has led to estimated losses of about Sh13 billion.

The International Monetary Fund (IMF) has revised its global growth forecast downwards for 2026, citing risks from the Middle East conflict.

• Global growth is projected to slow to 3.0 percent in 2026, down from an average of 3.5 percent in 2025.
• The IMF, an international financial institution, released this projection in its latest World Economic Outlook report.
• Despite the slowdown, advances in artificial intelligence are providing a partial offset through accelerated demand in the global technology cycle.

KCB Bank is expanding its Islamic banking services with new Shariah-compliant solutions targeting Muslim customers. The bank has launched a new payment card and agency banking network to cater to this growing market.

• Partnership with Mastercard to introduce the Sahl Card, a Shariah-compliant payment solution.
• Key organizations: KCB Bank and Mastercard.
• The new offerings aim to improve access to Islamic banking and provide greater convenience for customers managing their finances according to religious beliefs.