Kenya Senate finance committee wants Central Bank of Kenya to suspend its decision to freeze licensing of new banks until further notice.
Chairman of the committee Billow Kerrow on Thursday told the House his team will write to CBK to lift the suspension on licensing of new commercial banks.The Senate’s Minority Leader said the decision was interfering with the fundamentals of a free market.
CBK governor Patrick Njoroge suspended the licensing of new commercial banks on November 17, until further notice without disclosing further details.
Njoroge said the ban was temporary and does not apply to the resolution, acquisition and mergers of banks.
