Kenya Deposit Insurance Corporation Board Of Directors 2023

We have an updated list of the Kenya Deposit Insurance Corporation board of directors. However, as of my knowledge cutoff (2023), the KDIC board of directors consisted of the following members:

1. Dr. Patrick Njoroge – Director
2. Habil Okunda Olaka – Director
3. Mrs.Hellen Chepchumba Chepkwony – Acting Chief Executive Officer
4. Eunice Kitche-Oduor – Director; Legal And Board Secretary

KDIC Senior Management

• Mrs.Hellen Chepchumba Chepkwony – Acting Chief Executive Officer
• Eunice Kitche-Oduor Director; Legal And Board Secretary
• Mr. Robert Mbarani- Director – Corporate Services
• Mr. Paul Manga – Director – Risk & Examination
• Mr. David Irungu Director – Resolutions
• Mary Kiragu Director-Internal Audit

It is important to note that the board of directors may change over time, so it is recommended to verify this information with the Kenya Deposit Insurance Corporation directly.

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Functions Of Kenya Deposit Insurance Corporation(KDIC)

The Kenya Deposit Insurance Corporation (KDIC) has several functions, including:

1. Providing deposit insurance: KDIC protects depositors in the event that a member institution fails by providing depositors with compensation for their insured deposits up to a certain limit.
2. Promoting stability in the financial sector: KDIC works to maintain stability in the financial sector by providing a safety net for depositors and promoting confidence in the banking system.
3. Assisting in the resolution of failed financial institutions: KDIC provides support in the resolution of failed financial institutions, which may include the sale or liquidation of assets, in order to minimize the impact on depositors and the wider financial sector.
4. Educating the public: KDIC engages in public education and outreach efforts to raise awareness of deposit insurance and to encourage depositors to understand their rights and responsibilities.
5. Monitoring and supervising financial institutions: KDIC oversees and monitors the operations of member institutions to ensure that they are in compliance with regulations and standards.

These are the main functions of KDIC, although the organization may have additional responsibilities and functions as outlined in its enabling legislation and regulations.