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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:There I was all excited that it was an announcement that GoK is going to buy KQLC's shares in KQ.  It's really sweet to be a MP in Kenya. These crooks know little to nothing about banking. This is about stipends and allowances. If CBK did not play favorites, it would have shut down NBK a long time ago given it does not meet more the Capital Ratios per CBK's guidelines. Those powers to shut a bank were taken away from CBK and given to the Treasury Minister through an ammendment in parliament. This was after Dr Patrick shut down Dubai,Imperial and Chase bank. NBK,Consolidated,Spire bank were in the list to follow after the first three Wasn't that a PROPOSED amendment but not actually passed into law? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:There I was all excited that it was an announcement that GoK is going to buy KQLC's shares in KQ. It's really sweet to be a MP in Kenya. These crooks know little to nothing about banking. This is about stipends and allowances. If CBK did not play favorites, it would have shut down NBK a long time ago given it does not meet more the Capital Ratios per CBK's guidelines. Those powers to shut a bank were taken away from CBK and given to the Treasury Minister through an ammendment in parliament. This was after Dr Patrick shut down Dubai,Imperial and Chase bank. NBK,Consolidated,Spire bank were in the list to follow after the first three Wasn't that a PROPOSED amendment but not actually passed into law? The Treasury is seeking a say in the placement of distressed banks in statutory management under legal changes that will cut the powers of Central Bank of Kenya (CBK). In a move likely to raise questions on the independence of the CBK, Treasury secretary Henry Rotich is seeking an amendment to the Kenya Deposit Insurance Corporation (KDIC) Act to make it a requirement for the Treasury to be consulted before a bank is put in administration. Currently the decision is purely at the discretion of the CBK but that is set to change under the current Finance Bill. “The Bill seeks to amend the Act to provide for the involvement of the Cabinet secretary in the appointment of the corporation (KDIC) as a receiver,” said Benjamin Langat, chairperson of the parliamentary Finance, Planning and Trade Committee. The amendment signals the Treasury minister could have been unhappy with recent decisions by CBK to place three lenders under receivership, a move that caused ripples in the banking sector and threatened to spill over to the rest of the economy. https://www.businessdail...249712-3toqsj/index.htmlWealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 14,217 Location: nairobi
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Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:There I was all excited that it was an announcement that GoK is going to buy KQLC's shares in KQ. It's really sweet to be a MP in Kenya. These crooks know little to nothing about banking. This is about stipends and allowances. If CBK did not play favorites, it would have shut down NBK a long time ago given it does not meet more the Capital Ratios per CBK's guidelines. Those powers to shut a bank were taken away from CBK and given to the Treasury Minister through an ammendment in parliament. This was after Dr Patrick shut down Dubai,Imperial and Chase bank. NBK,Consolidated,Spire bank were in the list to follow after the first three Wasn't that a PROPOSED amendment but not actually passed into law? The Treasury is seeking a say in the placement of distressed banks in statutory management under legal changes that will cut the powers of Central Bank of Kenya (CBK). In a move likely to raise questions on the independence of the CBK, Treasury secretary Henry Rotich is seeking an amendment to the Kenya Deposit Insurance Corporation (KDIC) Act to make it a requirement for the Treasury to be consulted before a bank is put in administration. Currently the decision is purely at the discretion of the CBK but that is set to change under the current Finance Bill. “The Bill seeks to amend the Act to provide for the involvement of the Cabinet secretary in the appointment of the corporation (KDIC) as a receiver,” said Benjamin Langat, chairperson of the parliamentary Finance, Planning and Trade Committee. The amendment signals the Treasury minister could have been unhappy with recent decisions by CBK to place three lenders under receivership, a move that caused ripples in the banking sector and threatened to spill over to the rest of the economy. https://www.businessdail...49712-3toqsj/index.html
A move in bad faith by the treasury that will eventually cause more harm than good. Why would CBK the oversight body not have ability to call out a skunk
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:There I was all excited that it was an announcement that GoK is going to buy KQLC's shares in KQ. It's really sweet to be a MP in Kenya. These crooks know little to nothing about banking. This is about stipends and allowances. If CBK did not play favorites, it would have shut down NBK a long time ago given it does not meet more the Capital Ratios per CBK's guidelines. Those powers to shut a bank were taken away from CBK and given to the Treasury Minister through an ammendment in parliament. This was after Dr Patrick shut down Dubai,Imperial and Chase bank. NBK,Consolidated,Spire bank were in the list to follow after the first three Wasn't that a PROPOSED amendment but not actually passed into law? The Treasury is seeking a say in the placement of distressed banks in statutory management under legal changes that will cut the powers of Central Bank of Kenya (CBK). In a move likely to raise questions on the independence of the CBK, Treasury secretary Henry Rotich is seeking an amendment to the Kenya Deposit Insurance Corporation (KDIC) Act to make it a requirement for the Treasury to be consulted before a bank is put in administration. Currently the decision is purely at the discretion of the CBK but that is set to change under the current Finance Bill. “The Bill seeks to amend the Act to provide for the involvement of the Cabinet secretary in the appointment of the corporation (KDIC) as a receiver,” said Benjamin Langat, chairperson of the parliamentary Finance, Planning and Trade Committee. The amendment signals the Treasury minister could have been unhappy with recent decisions by CBK to place three lenders under receivership, a move that caused ripples in the banking sector and threatened to spill over to the rest of the economy. https://www.businessdail...49712-3toqsj/index.html Was the amendment included in the Finance Bill? Was it signed into law? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:There I was all excited that it was an announcement that GoK is going to buy KQLC's shares in KQ. It's really sweet to be a MP in Kenya. These crooks know little to nothing about banking. This is about stipends and allowances. If CBK did not play favorites, it would have shut down NBK a long time ago given it does not meet more the Capital Ratios per CBK's guidelines. Those powers to shut a bank were taken away from CBK and given to the Treasury Minister through an ammendment in parliament. This was after Dr Patrick shut down Dubai,Imperial and Chase bank. NBK,Consolidated,Spire bank were in the list to follow after the first three Wasn't that a PROPOSED amendment but not actually passed into law? The Treasury is seeking a say in the placement of distressed banks in statutory management under legal changes that will cut the powers of Central Bank of Kenya (CBK). In a move likely to raise questions on the independence of the CBK, Treasury secretary Henry Rotich is seeking an amendment to the Kenya Deposit Insurance Corporation (KDIC) Act to make it a requirement for the Treasury to be consulted before a bank is put in administration. Currently the decision is purely at the discretion of the CBK but that is set to change under the current Finance Bill. “The Bill seeks to amend the Act to provide for the involvement of the Cabinet secretary in the appointment of the corporation (KDIC) as a receiver,” said Benjamin Langat, chairperson of the parliamentary Finance, Planning and Trade Committee. The amendment signals the Treasury minister could have been unhappy with recent decisions by CBK to place three lenders under receivership, a move that caused ripples in the banking sector and threatened to spill over to the rest of the economy. https://www.businessdail...49712-3toqsj/index.html Was the amendment included in the Finance Bill? Was it signed into law? Yes it was included and the president signed it into law Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:There I was all excited that it was an announcement that GoK is going to buy KQLC's shares in KQ. It's really sweet to be a MP in Kenya. These crooks know little to nothing about banking. This is about stipends and allowances. If CBK did not play favorites, it would have shut down NBK a long time ago given it does not meet more the Capital Ratios per CBK's guidelines. Those powers to shut a bank were taken away from CBK and given to the Treasury Minister through an ammendment in parliament. This was after Dr Patrick shut down Dubai,Imperial and Chase bank. NBK,Consolidated,Spire bank were in the list to follow after the first three Wasn't that a PROPOSED amendment but not actually passed into law? The Treasury is seeking a say in the placement of distressed banks in statutory management under legal changes that will cut the powers of Central Bank of Kenya (CBK). In a move likely to raise questions on the independence of the CBK, Treasury secretary Henry Rotich is seeking an amendment to the Kenya Deposit Insurance Corporation (KDIC) Act to make it a requirement for the Treasury to be consulted before a bank is put in administration. Currently the decision is purely at the discretion of the CBK but that is set to change under the current Finance Bill. “The Bill seeks to amend the Act to provide for the involvement of the Cabinet secretary in the appointment of the corporation (KDIC) as a receiver,” said Benjamin Langat, chairperson of the parliamentary Finance, Planning and Trade Committee. The amendment signals the Treasury minister could have been unhappy with recent decisions by CBK to place three lenders under receivership, a move that caused ripples in the banking sector and threatened to spill over to the rest of the economy. https://www.businessdail...49712-3toqsj/index.html Was the amendment included in the Finance Bill? Was it signed into law? Yes it was included and the president signed it into law That's really screwy. With the interest rate cap and control over banks going to Treasury, what does Njoroge do all day? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:Ericsson wrote:VituVingiSana wrote:There I was all excited that it was an announcement that GoK is going to buy KQLC's shares in KQ. It's really sweet to be a MP in Kenya. These crooks know little to nothing about banking. This is about stipends and allowances. If CBK did not play favorites, it would have shut down NBK a long time ago given it does not meet more the Capital Ratios per CBK's guidelines. Those powers to shut a bank were taken away from CBK and given to the Treasury Minister through an ammendment in parliament. This was after Dr Patrick shut down Dubai,Imperial and Chase bank. NBK,Consolidated,Spire bank were in the list to follow after the first three Wasn't that a PROPOSED amendment but not actually passed into law? The Treasury is seeking a say in the placement of distressed banks in statutory management under legal changes that will cut the powers of Central Bank of Kenya (CBK). In a move likely to raise questions on the independence of the CBK, Treasury secretary Henry Rotich is seeking an amendment to the Kenya Deposit Insurance Corporation (KDIC) Act to make it a requirement for the Treasury to be consulted before a bank is put in administration. Currently the decision is purely at the discretion of the CBK but that is set to change under the current Finance Bill. “The Bill seeks to amend the Act to provide for the involvement of the Cabinet secretary in the appointment of the corporation (KDIC) as a receiver,” said Benjamin Langat, chairperson of the parliamentary Finance, Planning and Trade Committee. The amendment signals the Treasury minister could have been unhappy with recent decisions by CBK to place three lenders under receivership, a move that caused ripples in the banking sector and threatened to spill over to the rest of the economy. https://www.businessdail...49712-3toqsj/index.html Was the amendment included in the Finance Bill? Was it signed into law? Yes it was included and the president signed it into law That's really screwy. With the interest rate cap and control over banks going to Treasury, what does Njoroge do all day? You've heard Obiero saying severally the two boys have screwed this country big time. Njoroge prays and meditation. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/21/2010 Posts: 6,194 Location: nairobi
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Did Q1 come?I might be behind news "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Elder Joined: 12/4/2009 Posts: 10,804 Location: NAIROBI
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https://kenyanwallstreet...-takeover-offer-by-kcb/
Kenya’s stock market regulator has approved the the offer document related to KCB Group’s proposed acquisition of 100% shareholding of National Bank of Kenya. The acquisition is expected to occur through a share swap whereby NBK shareholders will exchange 10 ordinary shares for 1 ordinary share of KCB group. KCB Group shareholders are expected to vote in favour of the transaction at the upcoming AGM on 30th May 2019. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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