THUGGE’S ASSURE KENYANS ON BANK CLOSURE

Dr. Kamau Thugge, Governor of the Central Bank of Kenya (CBK), has addressed concerns regarding the rumors of potential bank closures. In his recent statements, Thugge assured Kenyans that there is no need to worry about the stability of banks. He emphasized that the financial sector remains robust and that the CBK has implemented several measures to ensure financial stability.

Thugge highlighted that the CBK is closely monitoring the financial system and is prepared to take necessary actions to maintain stability. He reassured the public that Kenya’s banking sector is well-capitalized and resilient, with sufficient liquidity to support economic activities. Furthermore, he noted that ongoing reforms and regulations are in place to safeguard the interests of depositors and the overall health of the financial system.

Additionally, Thugge pointed out that the CBK has been proactive in strengthening the financial sector through various initiatives, such as enhancing risk management frameworks and promoting transparency and accountability within banks. These efforts aim to build public confidence and ensure that the financial system can withstand external shocks.

Overall, Dr. Thugge’s message to Kenyans is clear: the banking sector is stable, and there is no imminent risk of bank closures. The CBK remains committed to maintaining a secure and sound financial environment for all Kenyans​