Ailing tycoon Jared Kangwana’s Maisha Micro Finance Bank stands on quick sand
Financial institutions regulator Central Bank of Kenya is being persuaded to launch investigations into operations at the struggling Maisha Micro Finance Bank. There is increasing uproar against the bank following revelations of suspicious and dubious operations ostensibly presided over by the top management.
The institution is the thirteenth deposit taking bank in Kenya after it was licensed by the CBK in June 2016 but all has not been well from the early days it opened its door opened. Its operations have been constantly shrouded with gestures that only raise eyebrows as in most cases, it finds itself against stipulated rules under the micro finance Act. Power players calling shots at the ailing financial institution are said to have shocked the financial world when they applied for o...