Karanja Njenga Advocates

Security and Finance

THE UNCLAIMED FINANCIAL ASSETS (AMENDMENT) BILL, 2024

The Unclaimed Financial Assets Act of 2011 (hereafter referred to as the “Act\”) governs the management of unclaimed assets and cash held by the government. Such unclaimed assets encompass both tangible and intangible properties that have not been claimed by their rightful owners. A financial asset is deemed unclaimed when no claims have been made

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Security and Finance

Legal alert: Court issues orders to banks on rates of interests

REGULATION OF INTEREST RATES IN BANKING IN KENYA: THE CASE OF STANBIC BANK KENYA LIMITED V SANTOWELS LIMITED Brief Facts of the Case   On 28th June 2024, the Supreme Court in Petition No. E005 of 2023 Stanbic Bank Ltd -vs- Santowels Limited held that banks/financial institutions are required to seek the approval of the

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Security and Finance