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Banking business License

  • Agency: Bank Supervision Department
  • Purpose: To transact banking business
  • Application Fee: Ksh 5,000/=
  • License Fee: (a) Ksh 400,000/= granting of a license to an institution and each anniversary thereof: (b) Ksh150,000/= for branch within municipality (c) Branch within a town council ksh 100,000/= [d] Branch within an urban council Ksh 30,000/=
  • Maximum Processing Time: One Month
  • Statutes:
  • Gazetted On: 1991-12-31
  • Related Websites: www.centralbank.go.ke
  • Validity: One Year
  • Enactment: 1991-12-31
  • Contact Office: The director,bank supervision department
  • Resolution Criteria: If the applicant meets the prescribed requirements
  • License Type: License/Permit
  • (a) Seek approval of the use of the word "bank" from the central bank of kenya
  • (b) Once central bank has approved the name,apply to the registrar of companies for incorporation of the proposed bank as a limited liability company
  • (c) Upon incorporation of the limited company apply to central bank of kenya for banking license. Application should be supported by a business and feasibility study of the proposed bank
  • (d) Provide evidence of your source of capital to start the bank. Currently a minimum capital of kshs 250million to be increased gradually to shs 1billion by 2012 is required to start a bank.
  • (e) Upon meeting all requirements,the central bank of kenya will grant written approval to conduct banking business
  • (f) With this approval, proceed to obtain premises,information systems and recruit staff for the proposed bank
  • (g) Central bank to conduct an inspection of premises prior to commencement of operations. If the inspection is satisfactory,the central bank of kenya specifies the bank and places a notice in the kenya Gazette to formally license the bank
  • (h) A license is then issued and you can open your doors to the customers
  • (i) The license is renewed annually
  • Licensing Body: Bank Supervision Department

Downloadable Application Forms