Nakuru Chase Bank customers can now sigh with relief after the bank reopened its doors to its customers on Wednesday.
The bank will now be under the management of the Kenya Commercial Bank.
The move came even as the Central Bank of Kenya called on members of Parliament to make amendments to the law to give it powers to name rogue banks in the country.
The regulator says the banks should be named and shamed publicly.
Protecting their stand, CBK supervision unit officials said the move will help the banks respect decisions and rules posed by CBK as their regulator.
Gerald Nyaoma, director of Bank Supervision said CBK as a regulator will be able to correct mistakes made by banks to prevent their collapse.
He said two of the collapsed banks did not pay keen attention to what the CBK had advised them.
‘The two fallen banks did not follow our regulations. This is very dangerous because if we can give orders and the banks fail to adhere to, afterwards they collapse and call us to their rescue it means we are wasting each other’s efforts,’ he said.
He said that if the CBK could have publicly exposed the banks before their failures, it could have helped the public to push for the banks to fix the mess as ordered by the CBK or lose business.