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It’s a reprieve for commercial banks, as the national assembly agreed to extend the period within which they should increase their minimum core capital. A compromise position reached by the house allows banks more time to progressively increase the minimum capital to 10 billion shillings in five years, instead of three years as earlier proposed in the bill. Six commercial banks are yet to comply with the one billion shillings requirement as at end of this year.
MPs extend period requiring banks to increase minimum core capital
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