Nairobi, Sept. 30 -- The Central Bank of Kenya (CBK) is seeking to oversee transfer of business between subsidiaries in a banking group in a bid to protect investors and depositors.

The regulator, in new draft prudential guidelines, has proposed rules to guide hive-down transactions, which refers to the process where a bank transfers a business unit, assets, liabilities or a specific operation to a newly created or existing subsidiary.

Published by HT Digital Content Services with permission from Business Daily....