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NAIROBI: The National Treasury is planning to increase the minimum capitalisation level for commercial banks and insurance companies from Sh1 billion to Sh5 billion.
"The minimum core capital for commercial banks will increase from the current Sh1 billion to Sh5 billion by December 2018. Further, the minimum core capital for insurance doing general business will increase to Sh600 million and Sh400 million for those engaged in life business," National Treasury Cabinet Secretary Henry Rotich announced Thursday.
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