Nairobi, Oct. 3 -- The Central Bank of Kenya (CBK) has set a Sh1 million fine for late payment of annual fees by non-deposit-taking credit providers (NDTCPs), adding to an array of steeply increased compliance fees for this group.

Freshly published regulations by CBK Governor Kamau Thugge said that NDTCPs that failed to pay the annual fee by December 31 of each year would pay the Sh1 million. The fine was not provided in the earlier draft regulations published by the apex bank last year.

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