Banking Community Announces Relief On Loans

Kenya Bankers Association (KBA)

The banks' umbrella body, Kenya Banker's Association (KBA) Thursday announced implementing the directives by the Central Bank of Kenya (CBK) in order to alleviate the economic impact caused by Coronavirus.

In its Thursday communication, KBA announced that all commercial banks are welcoming any borrower whose loan was due as at 2nd March 2020 to go and apply for a tenor extension of up to one year.

The banks are going to be supportive on this and will continue to help businesses affected by COVID19 pandemic to get financial services as usual.

KBA also encouraged customers to continue using cashless ways of transacting such as ATM cards, mobile apps, USSD codes, Internet Banking and mobile wallets. Just remember to be vigilant as fraudsters may take advantage of the situation.

In this period, banks will continue to serve the public as usual. Safety measures will be kept in place like social distancing, washing hands and use of sanitizers.


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