These Regulations implement provisions of the Microfinance Act with respect to a supervisory enforcement action by the Central Bank against a microfinance institution to protect the interest of the depositors and creditors of an institution. They define actions which shall constitute specific violations by an institutions, its officers or employees, which shall be subject to administrative sanctions and assessment of monetary penalties. Where the Central Bank is satisfied that an institution, its officers or employees have contravened the terms and conditions of its licence, any provisions of the Act, any directive or order made under the Act, the Central Bank may take such corrective action as prescribed. The Central Bank may also order the institution to submit to it a capital restoration plan.
كينيا · 2009-01-01