Judiciary, KDIC Strengthen Ties on Key Areas.
The Judiciary will closely partner with the Kenya Deposit Insurance Corporation with the aim of speedily dispensing justice in the area of bank resolution in the country and other Corporation-related mandate that require judicial solutions. This is according to Chief Justice Martha Koome.
Speaking at her Supreme Court Office during a courtesy call by KDIC’s Chief Executive Officer Mr. Mohamud A. Mohamud, the C.J noted that the Corporation’s mandate was an incentive for risk management and stability of the financial sector.
Lauding the Corporation for its achievements over the years, her ladyship Koome assured that the Judiciary will expeditiously handle pending cases relating to bank resolution, aimed at protecting depositors. “You are doing a fantastic job. You must be commended for what you are doing to reduce risks in this area and ensure predictability for investment,” she observed.
The C.J added: “Depositors must not suffer for mistakes that are not theirs. We appreciate the impact of efficient dispute resolution on the country’s business climate and investor confidence. We are therefore prioritizing the efficiency of commercial courts.”
On his part, Mr. Mohamud who enumerated KDIC’s milestones over the years, affirmed the Corporation’s strategic collaboration with government agencies and other stakeholders on areas of mutual interests.
KDIC is currently overseeing the resolution of 19 financial institutions.