President Kenyatta has lauded the move by Central Bank of Kenya Governor to put Chase Bank under receivership and asked the CBK governor to ensure Chase Bank and its Rafiki Micro finance customers were given back their money deposits.
The President further reiterated that the crack down on non-compliant banks was in order so that depositors money could be safe-guarded and the law upheld to the letter.
“I believe the governor is doing the best for the sector. The banks must follow the law. The cleaning up doesn’t mean it is falling down. We must strengthen the financial sector as we move forward,”
He also assured Kenyans that the banking sector was not in crisis, but all it need is be strengthened to keep it from crumbling.
“I have emphasized to my Treasury Cabinet Secretary to ensure depositors, especially small depositors, are protected. This is the most important thing, I think. All depositors must remain protected,” he said.
Kenyatta was addressing Kenyans while on his state visit to Germany.