Thugge raises compliance fees for non-deposit-taking credit firms

The Central Bank of Kenya (CBK) has set a 1 million shilling fine for late payment of annual fees by non-deposit-taking credit providers (NDTCPs), along with a significant increase in compliance fees for this group. New regulations issued by CBK Governor Kamau Thugge state that NDTCPs failing to pay by December 31 will face the fine. The earlier draft regulations did not include this penalty.