Government will quarantine all cash from local banks for a period of one week, Central Bank of Kenya (CBK) governor Patrick Njoroge has said.
The move is part of precautionary measures being undertaken by the state to avoid the spread of COVID-19 which is also transmitted through cash exchange.
The CBK governor has further encouraged Kenyans to adopt mobile money transfers in their daily transaction to minimize the chances of spreading the virus.
Following a meeting with commercial banks on Monday, March 16, 2020, the Central Bank of Kenya (CBK) has announced a set of measures that commercial banks will undertake in order to alleviate the adverse economic effects their customers may face from the Coronavirus pandemic (COVID-19). While the extent of the adverse effects are still evolving, it is already evident that the impact on some of the customers may be severe.
To help alleviate the adverse effects, the following emergency measures will apply for borrowers whose loan repayments were up to date as at March 2, 2020.
- Banks will seek to provide relief to borrowers on their personal loans based on their individual circumstances arising from the pandemic.
- To provide relief on personal loans, banks will review requests from borrowers for extension of their loan for a period of up to one year. To initiate this process, borrowers should contact their respective banks.
- Medium-sized enterprises (SMEs) and corporate borrowers can contact their banks for assessment and restructuring of their loans based on their respective circumstances arising from the pandemic.
- Banks will meet all the costs related to the extension and restructuring of loans.
- To facilitate increased use of mobile digital platforms, banks will waive all charges for balance inquiry.
- As earlier announced, all charges for transfers between mobile money wallets and bank accounts will be eliminated.
CBK will closely monitor the implementation of these measures, particularly in light of the fast-evolving nature of the economic impact of the pandemic.
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nothing like Justice in Kenya's electoral body.this greediest must vacate the office
Your Comment : I have now believed that we do not have an independent electoral and boundaries commission , instead we have a congregation of greedy individuals out to misuse Kenyans and bring chaos to our country. #Remove them. #clean the top leadership.
Congratulations to Governor Mutua,you really deserve to lead in the best performing governors,,, those ranked last should be dealt with accordingly for misappropriating public funds
Raila was the hunter now the hunted... how do trust a hyena like Uhuru.. You both greedy... you dug your grave lie in it... What handshake.. Crap...
Babu aje zake,handshake is for all Kenyans, and Kibra believe in handshake, there4, Uhuru And Raila should have different candidates and whoever Will go through Will be thé product of handshake
Babu waja ukoloni bwana, there's no direct ticket
Hehehe, supporting somebody was not an agreement in the handshake my friends!! Remember Raila caused many to die during the era of maandamano hence Uhuru devised a method how to tame this power hungry man!! Mariga must win
Your Raila and uhuru come from different political party,. Everyone is free to handle his party issues and i salute the president for supporting mariga being the jubilee candidate. Raila is also supporting the odm candidate and no one is against that. Some people are taking handshake as political party while it's not. Please mr mp style up.
Babu wacha kiherehere or baba will tie u the same tree kidero and obado were rope tied when the latters looked threatening the leadership of baba in nyanza
wacha kiherehere babu