NAIROBI, March 13 Kenya's central bank said on
Monday it would process requests for licences by two new banks,
ending a moratorium it put in place in 2015 on licensing new
The central bank said in a statement that DIB Bank Kenya and
Mayfair Bank Kenya had received "approval in principle" before
the 2015 suspension of licensing.
"The Central Bank of Kenya (CBK) announces its intention to
finalise the processing of licence applications for two
institutions ... as a first step to lifting the moratorium on
licensing of new commercial banks," it said.
DIB Bank Kenya is wholly owned by the Dubai Islamic Bank
PJSC, which operates according to Islamic principles.
Mayfair Bank is owned by Kenyan investors.
The central bank gave no reason for its action when it
suspended the licensing of new banks.
But the moratorium came after it had placed privately-owned
Imperial Bank under receivership in October 2015. Imperial's
board had alerted the central bank to malpractices at the
(Reporting by George Obulutsa; Editing by Katharine Houreld and