Wednesday , 22 November 2017

Home » News » Rafiki, we have suffered panic withdrawals
rafiki bank 1

Rafiki, we have suffered panic withdrawals

Category: News Comments Off on Rafiki, we have suffered panic withdrawals A+ / A-

Chase bank subsidiary, Rafiki Microfinance has admitted closure of its parent firm has caused massive panic withdrawals from its accounts but assured depositors on safety of their cash.

The informal groups lender, said it remains operational despite Central bank’s move to place its affiliate under receivership.

Receivership of Chase Bank Limited on Thursday morning sparked panic which saw withdrawals across Rafiki’s various branches countrywide, over social media misinformation, the lender said.

“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.

The micro-lender called on depositors to desist from rushing for their money as it assured them of security of investments and smooth transactions.

“We would like to assure the public, our shareholders, partners, suppliers and customers that their investments remain safe with us and we shall continue providing reliable financial solutions,” the management said.

Chase Bank controls 75 percent of Rafiki’s business that launched in the market in 2011.

Rafiki, we have suffered panic withdrawals Reviewed by on . Chase bank subsidiary, Rafiki Microfinance has admitted closure of its parent firm has caused massive panic withdrawals from its accounts but assured depositors Chase bank subsidiary, Rafiki Microfinance has admitted closure of its parent firm has caused massive panic withdrawals from its accounts but assured depositors Rating: 0
scroll to top