Kenya

Kenya Deposit Insurance Corporation (KDIC), Kenya

About KDIC

The Kenya Deposit Insurance Corporation (KDIC), is a statutory institution established under the Kenya Deposit Insurance (KDI) Act, 2012. The Corporation which is Kenya’s resolution authority for banks is mandated to:

(a). Provide a deposit insurance scheme for customers of member institutions; Through Deposit, Insurance, depositors are protected from losses in the event of any bank failure. The cost of depositors’ protection is covered through a special fund (Deposit Insurance Scheme) which is an annual premium contribution by member institutions. A depositor of a member institution placed in liquidation is entitled to a payment of up to 3,500 USD. Any additional payments are based on the recovery of debts and realization of assets of the failed institution.

(b). Provide incentives for sound risk management; The Corporation has instituted mechanisms that enable it to detect early warning signs and promptly intervene against potential bank failure. The Corporation is thus implementing the Risk-based Premium Assessment model for annual premium payments. 

(c). Promptly resolve troubled banks. The Corporation promptly resolves troubled institutions to minimize disruptions in the financial system. The process of resolution involves Receivership, Liquidation and Winding up.

Vision

A reliable, effective deposit insurer and resolution authority

Mission

To protect depositors and enhance public confidence in the financial system by promoting sound risk management and timely resolution

Core values

Teamwork; Accountability; Innovativeness; Integrity; Customer Focus; Professionalism

KDIC Key Stakeholders

Mrs. Hellen Chepchumba Chepkwony
Mrs. Hannah W. Muriithi
Chief Executive Officer
Board Chairperson

 

List of Board Members

  • Mrs. Hannah W. Muriithi
  • Prof. Njuguna Ndung’u, CBC
  • Hon. Justine B.N Muturi E.G.H
  • Dr. Kamau Thugge
  • Mr. Joseph Kiptoo Ng’etich
  • Mr. James Agembe Akali
  • Dr. Habil Okunda Olaka
  • Ms. Melissa Ng’ania
  • Ms. Anne Rimbaine Lengerded
  • Mrs. Hellen Chepchumba Chepkwony

 

Names, titles and contacts of Executive Management Members/Heads of Departments

NAME DESIGNATION CONTACTS
 Hellen Chepkwony (MRS)  Chief Executive Officer  chepkwonyh@kdic.go.ke
 David Irungu  Director, Bank Resolution  irungudg@kdic.go.ke
 Eunice Kitche  Director, Legal  oduorek@kdic.go.ke
 Paul Manga  Director, Risk & Bank   Examination  mangap@kdic.go.ke
 Mary Kiragu  Director, Internal Audit  kiragumw@kdic.go.ke

 

Contact information

  • Physical address : 23rd Floor, Old Mutual Tower, Upperhill Road, Nairobi Kenya
  • Phone Number : 0709043000
  • Email address : customercare@kdic.go.ke
  • Website : www.kdic.go.ke