The management of Rafiki Microfinance Bank has said it remains operational despite its parent company, Chase Bank being placed under receivership.

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In a statement sent to stakeholders on Friday, the microfinance assured them its not under receivership and will continue with its operations.

"This is to inform you that the receivership of Chase Bank Limited does not include Rafiki Microfinance Bank, hence we remain operational. Rafiki Microfinance Bank is regulated by the Central Bank of Kenya," the statement read.

Last year Kiambu county government partnered with Rafiki Microfinance Bank to provide interest-free loans to individuals and groups.

Kiambu Biashara Fund provides loans for not just start-ups but also established businesses and is accessible to youths,women and people with disabilities.

Rafiki Microfinance Bank assured customers and all the stakeholders that despite small hiccups, their deposits and investments are safe and transactions will go on as usual.

The bank has various branches in Kiambu county including Thika, Kiambu and Githurai 45 in Ruiru sub-county.