Institution
Kenya Mortgage Refinance Plc (KMRC). - Kenya
| 1 | Founding Instrument(s) (with links if possible) |
Kenya Mortgage Refinance Company (KMRC) is a financial institution registered as a public liability company (PLC) in 2019 under the Companies Act 2015. The company is licensed and regulated by the Central Bank of Kenya (CBK) as a non-deposit taking financial institution under the Central Bank of Kenya (Mortgage Refinance Companies) Regulations, 2019, and the Capital Markets Authority (CMA) as an issuer of securities to the public. Link: https://www.centralbank.go.ke/wp-content/uploads/2019/08/Central-Bank-of-Kenya-Mortgage-Refinance-Companies-Regulations-2019.pdf |
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| 2 | Any additional or subsequent mandate or governance statements (not included in the above). | None | |
| 3 | Ownership | Government of Kenya (GoK) through National Treasury (25%); Commercial banks (44%); Savings and Credit Cooperative Organizations (SACCOs) (8%); Development Finance Institutions (23%). | |
| 4 | Legal status | Non-Deposit Taking Financial Institution | |
| 5 | Government accounting for stake | N/A | |
| 6 | Member bank accounting for stake | Equity investments into KMRC are accounted for in accordance with guidance from IFRSs. | |
| 7 | Government guarantee | N/A | |
| 8 | Other Comments | None |
| Any further comments/information? |