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Cheques to clear in 2 days

01 August 2013, 11:41

Nairobi -  Kenyans now can have some relief as it shall only take two days down from the usual four for cheques to be cleared at their respective banks starting August 19 this year.

In statement to Capital News, the Central Bank of Kenya (CBK) Governor Professor Njuguna Ndung’u said banks have invested in the systems that will allow customers from all corners of the country to have access to the new banking service.

The faster cheque clearing cycle can be attributed to the introduction of the Cheque Truncation process in 2011 that enables inter bank cheque clearing at the automated clearing house owned by the Kenya Bankers Association (KBA) and regulated by CBK.

- For more visit Capital News

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