PSCU
President Uhuru Kenyatta has assured Kenyans that there was no reason to worry over the state of the banking sector saying the placing of Dubai, Imperial and now Chase Bank under receivership was simply a “cleaning up” exercise.
The president also noted that this was critical to the overall health of the economy that bankers not be allowed to operate outside the law and expressed every confidence in Central Bank Governor Patrick Njoroge’s ability to keep them in line.
“The governor is just saying that we must no longer brush it aside. We must now strengthen and remove weaknesses in our banking system. We can no longer brush it aside. Our bankers must begin to understand that they must follow the law but that does not mean that the overall health of our banking and financial sector is not strong.”
He said his only concern is that depositors not pay the price for the “sins of others.”
“What is important to me is to ensure that all our depositors especially the small depositors remain and stay protected,” he said.
He said he had instructed his Treasury Cabinet Secretary Henry Rotich to calm fears in an effort to avert investor panic as was witnessed on Wednesday when massive withdrawals were made from Chase Bank.
