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CS kicks out Kuscco board after new audit reveals loss of billions

CS kicks out Kuscco board after new audit reveals loss of billions
standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.

Nairobi areaGeorge magutuGeorge ototoMinistry of cooperativesKenya union of savingsMsmes developmentKuscco housing society shFront office services activity fosa sacco kusasaSmall enterprises msmes development simon cheluguiKuscco centreCredit cooperative society kusccoSaccos societies regulatory authority sasraSacco societies regulatory authority sasraKenya unionCooperative societyCooperative development

Casinos, Forex bureaus have until next Friday to register with Financial Reporting Centre

Failure to comply will see their licenses, registration or permit suspended or revoked

Nairobi areaSaitoti maikaWilliam rutoSaccos societies regulatory authority sasraFinancial reporting centreNational assembly onAll casinosFinancial reportingAnti money laundering billPresident william rutoSaccos societies regulatory authorityGeneral saitoti maikaAnti money laundering actAnti money launderingTerrorism financing lawsClimate change

Saccos member deposits up by 9 8pc to 564b

Saccos member deposits up by 9 8pc to 564b
standardmedia.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from standardmedia.co.ke Daily Mail and Mail on Sunday newspapers.

George murathePeter njugunaSaccos societies regulatory authority sasraSaccos societies regulatory authorityDeposit taking saccoChairman george muratheChief executive peter njuguna

Saccos have up to end of June to comply with new rules

THE STANDARD By Kirsten Kanja | February 3rd 2021 at 15:48:08 GMT +0300 CS Peter Munya (PHOTO: Wilberforce Okwiri) NAIROBI, KENYA: Non-deposit taking Saccos holding deposits worth Sh100 million and above have up to the end of June to apply for an authorisation to operate from the Saccos Societies Regulatory Authority (Sasra). This follows the publication of the SACCO Societies (Non-deposit taking business) regulations, 2020, which took effect on January 1, 2021. Non-deposit taking SACCOs refer to those that take deposits from members only in the form of share capital. These amounts are refundable to members only when they leave the SACCO. On the other hand, deposit-taking SACCOs, besides undertaking the traditional roles of SACCOs (mobilization of savings and advancement of loans to members), also actively mobilize and receive withdrawable deposits. This kind of operation is popularly known as FOSA (Front Office Service Activity) in Kenya, while the former is known as BOSA (

Nairobi areaJohn munuvePeter munya at safari park hotelFront office service activitySaccos societies regulatory authority sasraOffice service activityWilberforce okwiriSaccos societies regulatory authorityBack office service activityNon deposit takingCabinet secretaryPeter munyaSafari park hotelCapital adequacy requirementsLiquidity managementRisk management