The Kenya Deposit Insurance Corporation (KDIC) is revising the Sh500,000 compensation limit for a customer of a collapsed bank, a move that will benefit depositors with larger balances.
KDIC has this week closed bids for a consultant who is set to review the funds' coverage limit to enhance public confidence and banking sector financial stability. The move will take into account changes in inflation and industry dynamics including the size of deposits held by commercial banks.
