The Finance Act, 2018 assented to on 21st September, 2018, amended the Central Bank of Kenya (CBK) Act, 1966 to regulate Mortgage Finance Business (the business). The amendments include having new definitions and introduction of new powers to the CBK
These amendments came into effect on 1st October , 2018.
Increased CBK powers
With the introduction of new sections, CBK will now have power to license and supervise the business. This includes:
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