-Giving Central Bank of Kenya(CBK) more powers to regulate the Banking sector i.e. some of the powers vested in the Minister of Finance have been moved to the CBK.-CBK to vet new and existing owners and directors of Banks.It can even ask existing owners who dont pass the muster to reduce their holdings to below 5%.
-The charges banks can levy on Savings,fixed deposit and 7 day call accounts to be restricted.
-The in duplum rule, that restricts oustanding amounts on bad loans to not more than double the Principal to be effected.i.e. Interest stops accruing once it is equal to the Principal amount borrowed.
Dont celebrate yet because the rules only come into effect once the Minister of Finance Gazettes them.
PS: I noticed that the IMF letter doesnt display when you go to the IMF site. Type or Paste the following words " kenya+2004+letter+intent " in the IMF site search box, then click on the first search result item to get to the letter. Picture of Fistful of Dollars courtesy of blackentrepreneurshalloffame.blogspot.com