President Uhuru Kenyatta has assured Kenyans that the banking sector is stable and safe.
This comes amid fear and anxiety among members of the public after Chase Bank became the third bank to be placed under receivership by the Central Bank of Kenya.
Dubai Bank and Imperial Bank were also placed under receivership over financial fraud at the banks.
Uhuru said mismanagement by unscrupulous individuals in the financial sector will not be allowed to hurt depositors.
“Those who run banks will not be allowed to steal from depositors,” he said.
He gave an assurance that depositors will not lose their money.
“It will be paid by those owners who took massive loans and did not pay,” he said.
He was speaking when he joined worshippers at the ACK St Andrew’s Cathedral in Thika
The President later presided over a fundraising to raise money for the Church to be self-sustaining.