How to reach KDIC about Chase Bank after receivership

Following the placing of Chase Bank Kenya under receivership, customers are in panic mode. In the interest of its depositors, creditors and members of the public, CBK has appointed Kenya Deposit Insurance Corporation (KDIC) as the receiver manager. Here’s more information.

Customers can now follow up on their Chase Bank accounts via the Kenya Deposit Insurance Corporation which is located at 1st Floor, CBK Pension House, Harambee Avenue, Nairobi, Kenya. Their website is

Those with questions can call the KDIC on Tel. No. 0770 887992. Customers can also contact KDIC on email: for more information.

Chase Bank has since issued a statement seeking to quell rumors that customers’ funds were at risk.

“We would like to take this moment to reassure the general public that our customers’ funds and investments are safe. ” A statement on their Facebook page read.

According to CBK, the KDCI team would be given 12 months to come up with an “appropriate resolution strategy”.

All 62 of its branches would remain closed until new management was put in place, said CBK chief Patrick Ngugi Njoroge.

“The Central Bank of Kenya has today Thursday appointed Kenya Deposit Insurance Corporation (KDIC) as the receiver manager for Chase Bank Limited for a period of twelve months, pursuant to the provisions of Sections 43 (1), 43(2) and (53)1 of the Kenya Deposit Insurance Act, 2012,” said CBK in a statement.

KDIC will assume the management, control and conduct of the affairs and business of the institution to the exclusion of its board of its directors and advise CBK of an appropriate resolution strategy as soon as it practicable and not later than twelve months, CBK said in the statement.

CBK has previously put 2 other banks under KDIC receivership which include the recently troubled Imperial Bank and Dubai Bank. Seventeen (17) other financial institutions are currently under liquidation.

Other Information Sources

Chase Bank Limited (In Receivership) 07-04-2016
CBK puts Chase Bank in receivership
Chase Bank Ltd. (In Receivership)

Chase Bank placed under receivership for one year

What is the Kenya Deposit Insurance Corporation? Mandate & Functions

Update: Chase Bank Set to Reopen on April 27

Coldwell launches real estate CRM system in Kenya

Global real estate firm, Coldwell Banker Kenya, has launched a customer relationship management (CRM) system to drive sales for real estate companies in Kenya.

The system generates property leads, locally and internationally, directly to real estate firms’ email addresses, and helps firms profitably manage their property listings, conduct target marketing, track property payments and commissions, and run social media and e-mail activity tracking.

“The system is cloud based, and available on multiple servers replicated all over the world for security and scalability reasons. Users access its features using a username and password,” said Danielle Callaway, Managing Director, Coldwell Banker Kenya.

The CRM also manages contacts and personal schedules, provides reporting tools, assist in importing popular business software, such as QuickBooks for accounting, as well as acting as a referral network for agents within the system.

“Networking globally is the way to go for real estate companies that are banking on growing their business and remaining competitive in today’s real estate space,” said Callaway. “And lead generation is more than the traditional practice of ‘I know a person who wants to buy in a particular area’.”

“Selling a property requires multiple leads in order to increase the chances of it being sold quicker,” she said.

Currently, most property listings in Kenya are not personalized. If a potential buyer or tenant is looking for a three bedroom apartment unit to buy or rent in Lavington, for instance, many of the listings will give all the three bedroom apartments available in their databases, including those not in Lavington.

This can put off potential buyers, as the buying or renting process becomes cumbersome.

However, the Coldwell Banker Kenya system provides contact management systems where agents and real estate companies can get scalable databases and categorise them, with the system able to match buyer preferences specifically to seller offers.

The system links the properties from all Coldwell Banker agents with all other agencies within the CRM system, effectively pooling all buyer and seller leads, while enabling companies to see the top choices in their listings, see the serious buyers and the speculators, and also update their listings to show changes in availability dates, or when a house is sold.

The system also provides members with industry data and statistics, and works from its own internal data to show market trends in pricing, rents, selling timelines, and geographical activity.

In addition, it tracks every lead, including when an offer is made, when and how much commission is paid, how much of it is going to agent or to the company, the tax element if any on the commission and any other levy.

Coldwell Banker’s CRM system also provides online calendar facilities for planning across scheduled meetings, real estate showings, automatic reminders and all real estate related activities.

“The beauty about our system is that users can opt to adopt a calendar, or if they are already using a Google calendar, for instance, they can simply import it into the system and continue using it, except that it will now be integrated with all the other information in their CRM account,” said Ms Callaway.

Large Cash Transactions to Attract Scrutiny

The Central Bank of Kenya (CBK) has issued new guidelines for mandatory information that Kenyans will be required to provide when handling large cash banking transactions, equal to or exceeding USD 10,000 or its equivalent in Kenya Shillings or any other currency.

These guidelines take effect immediately and customers of various banks in Kenya will be required to fill a declaration form to provide the following details:

  • Why is the large cash deposit or withdrawal necessary?
  • Why can’t the cash deposit or withdrawal be made through electronic means?
  • Where will the money be taken after it leaves the bank premises?
  • What is the money going to be used for?
  • Who will be the direct and indirect beneficiaries of the money?
  • What is the full identity of the intended beneficiaries of the money?
  • What is the source of the money being deposited or withdrawn over the counter?

According to CBK, the new regulations are designed to encourage the use of electronic payments and reduce the inherent risks involved with cash transactions. Electronic payments are beneficial to customers as they reduce losses due to fraud and theft.

To stay on the safe side of the regulations, banks in Kenya are offering alternate payment solutions such as

  • Electronic Funds Transfers (EFTs)
  • Real Time Gross Settlements (RTGS)
  • Mobile payments
  • Online Banking
  • Cross border funds transfers i.e. SWIFT
  • Cheques (both Bankers and Personal cheques)