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Module 1 · Topic 3KDIC Membership and Who Must Join?
Who Are KDIC Members?
Membership in KDIC is mandatory for all deposit-taking institutions licensed by the Central Bank of Kenya. This means that when a financial institution receives a licence to accept deposits from the public, it automatically becomes a KDIC member.
- Commercial Banks — 37 banks licensed by the CBK
- Microfinance Banks (MFBs) — 14 licensed MFBs
- Microfinance Institutions (MFIs) — 1 licensed MFI
There are currently 52 KDIC member institutions across Kenya. You can verify whether your bank or financial institution is a KDIC member on the KDIC Member Institutions page.
Member Obligations
Member institutions pay annual risk-based premiums into the Deposit Insurance Fund (DIF). They also submit quarterly deposit data and annual premium returns to KDIC. Failure to comply with these obligations may result in penalties under the KDI Act.
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