Home

Minister: Fund Won't Be Upped

  • Print
The guaranteed refund to depositors by the Deposit Protection Fund in the event of the collapse of a commercial bank will not be increased.

Finance Assistant Minister Mutua Katuku said the Government would not increase the Sh100,000 maximum refund to depositors.

Usually, depositors are paid a maximum of Sh100,000, after which the remaining bank assets are shared out among the depositors and other creditors.

Katuku was answering a question from West Mugirango MP Henry Obwocha (Ford-P).

Embakasi MP David Mwenje supported Obwocha. He sought to know the law that caters for major depositors when banks go under.

Health Assistant Minister Charity Ngilu was taken to task over the lack of water at the Kisii and Nyamira district hospitals.

Kitutu Masaba MP Mwancha Okioma (Ford-P), Obwocha, Kitutu Chache MP Jimmy Angwenyi (Ford-P) told the minister to provide the hospitals with water.