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member institution when (a) the institution's obligations to creditors exceed its assets (b) deliberately violates a regulatory or supervisory order (c) fails to provide necessary access to inspectors or lacks general transparency (d) is unable to meet any of its financial obligations, either now or in the near future (e) engages in activities that violate any of the country's laws.
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KDIC is also mandated to receive, liquidate, and wind up institutions for which it is the designated receiver or liquidator, a function previously overseen by the
Central Bank of Kenya. The KDI Act, 2012, mandates the Central Bank of Kenya, to appoint KDIC as the sole and exclusive receiver of a
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The
Corporation was an integral part of Central Bank of Kenya (CBK), the country's bank regulator, prior to its establishment and enhancement of KDIC's mandate in 2012. The law also established the Deposit Insurance Fund (the Fund), replacing the Deposit Protection Fund. KDIC, by law is mandated to
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In 2014, the law was amended and KDIC separated from the
Central Bank. KDIC collects a flat rate fee of 0.15 percent of all deposits from each member institution, adjustable at the discretion of KDIC. It also collects an additional fee based on the risk-adjusted percentage of their total deposit
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is a statutory institution established under the Kenya
Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions, to provide incentives for sound risk management and generally promote the stability of the
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175:, was placed under receivership by the CBK, on account of “serious cash-flow problems”. KDIC was called in to refund customer deposits. KDIC has recommended liquidation of the bank.
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KDIC is in the process of populating its entire staff structure that currently stands at 68 employees. The
Corporation hopes to have attained a staff complement of 160 by 2025.
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failed due to “unsafe and unsound business conditions to transact business” that existed in the bank. KDIC was instructed to intervene by CBK. In June 2016, CBK agreed with
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In June 2016, CBK mandated KDIC to intervene, when member financial institutions fell foul of Kenya's banking laws and regulations, during the previous twelve months.
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administer the Fund, by collecting contributions for the Fund from member institutions; and holding, managing, and applying the Fund.
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to take over the 28 branches and all 470 former employees of
Imperial Bank once the outstanding litigation is resolved.
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failed and was placed under receivership by the
Central Bank of Kenya, prompting KDIC to step in. Three weeks later,
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was appointed receiver-manager of Chase, with all branches re-opening on 27 April 2015, under KCB oversight.
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425:"Central Bank of Kenya puts Imperial Bank under statutory management"
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liabilities during the previous twelve months as calculated by KDIC.
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517:"KCB to take over management of Chase Bank, will reopen next week"
280:"Deposits insurer mulls new fund following recent bank failures"
338:"Deposit insurance fund hived off Central Bank of Kenya (CBK)"
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A day long and dollar short for
Imperial Bank shareholders
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458:"NIC to compensate Imperial Bank depositors in new deal"
396:"Central Bank of Kenya names liquidator for Dubai Bank"
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KDIC's headquarters are located at Old Mutual Tower,
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KDIC seeks first substantive chief executive officer
367:"Dubai Bank Kenya placed in receivership for a year"
251:"Depositors' insurer nears split from Central Bank"
423:George Ngigi, and Brian Ngugi (13 October 2015).
312:"Kenya: Kenya Deposit Insurance Bill Becomes Law"
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487:"Kenya: Chase Bank Put Under Receivership"
24:Kenya Deposit Insurance Corporation (KDIC)
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645:Kenyan companies established in 2012
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131:Kenya Deposit Insurance Corporation
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89:Mrs. Hellen Chepchumba Chepkwony,
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278:Irungu, Geoffrey (26 June 2016).
515:Irungu, George (20 April 2016).
485:The EastAfrican (7 April 2016).
456:Anyanzwa, James (21 June 2016).
336:Ngigi, George (12 August 2014).
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394:Olingo, Alan (24 August 2015).
365:BDA Reporter (14 August 2015).
310:Goitom, Hanibal (16 May 2012).
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16:For other uses of "KDIC", see
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615:Banks established in 2012
433:. Nairobi. Archived from
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92:Chief Executive Officer
195:KCB Bank Kenya Limited
522:Business Daily Africa
372:Business Daily Africa
343:Business Daily Africa
285:Business Daily Africa
256:Business Daily Africa
220:Central Bank of Kenya
105:Central Bank of Kenya
62:UAP Old Mutual Towers
591:1.28917°S 36.82500°E
163:Recent interventions
620:Government of Kenya
587: /
316:Library of Congress
208:Upper Hill, Nairobi
180:Imperial Bank Kenya
65:Upper Hill, Nairobi
53:Government of Kenya
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640:Insurance in Kenya
596:-1.28917; 36.82500
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635:Deposit insurance
314:. Washington DC:
178:In October 2015,
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173:Dubai Bank Kenya
171:In August 2015,
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437:on 12 June 2016
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59:Headquarters
49:Jurisdiction
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489:. Nairobi:
609:Categories
582:36°49′30″E
579:01°17′21″S
263:7 February
231:References
525:. Nairobi
466:. Nairobi
404:. Nairobi
375:. Nairobi
346:. Nairobi
288:. Nairobi
259:. Nairobi
78:50 (2020)
75:Employees
214:See also
202:Location
184:NIC Bank
155:Staffing
630:Nairobi
529:23 June
500:23 June
470:23 June
441:23 June
408:23 June
379:23 June
350:23 June
321:23 June
292:27 June
138:History
111:Website
39: (
34:Formed
118:.kdic
69:Kenya
531:2016
502:2016
493:via
472:2016
443:2016
410:2016
381:2016
352:2016
323:2016
294:2016
265:2020
41:2012
37:2012
18:KDIC
122:.ke
120:.go
116:www
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