Business Daily | by Otiato Guguyu
Banks have been spared Sh5.5 billion insurance payments on customer deposits following a six-month extension period from August this year amid Covid-19 pandemic that has adversely affected the cash flow positions.
According to the National Treasury in a November Paper titled Post Covid-19 Economic Recovery Strategy 2020-2022 the Kenya Deposit Insurance Corporation (KDIC) gave banks six extra months to pay premiums and deferred application of a new model that would see weak lenders pay more to insure deposits…
