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Building Society

  • Agency: Bank Supervision Department
  • Purpose: To carry on building society business
  • Application Fee: Kshs 5,000/=
  • License Fee: (a) Kshs 100,000/= on the granting of a license and each anniversary thereof: (b) Ksh 40,000/= for branch within municiparity (c) Ksh 20,000/= for branch within town council (d) kshs 6,000/= for branch within urban council
  • Maximum Processing Time: One Month
  • Statutes:
  • Gazetted On: 1989-12-31
  • Related Websites: www.centralbank.go.ke
  • Validity: One Year
  • Enactment: 1989-12-31
  • Contact Office: Office of the director Bank supervision department
  • Resolution Criteria: If the applicant meets the prescribed requirements
  • License Type: License/Permit
  • (a) Seek approval of the name from the registrar of building societies
  • (b) Lodge the building societies rules with the registrar of building societies for approval
  • (c) Apply to the minister for finance through central bank of kenya for a license attaching the relevant supporting documentation
  • (d) Provide evidence of availability of stipulated share capital to start the building societies business currently,the minimum capital of kshs 150 million
  • (e) A license is issued when all requirements are met
  • (f) The license is renewed annually
  • Licensing Body: Bank Supervision Department