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GAZETTE NOTICE NO. 661

THE BANKING ACT

(Cap. 488)

ACT

IT IS notified for information of the general public that pursuant to the provisions of section 9 (1) and (5) of the Banking Act that: (a) The Board of Directors of Mayfair CIB Bank Limited and Commercial International Bank (Egypt) S.A.E. vide resolutions passed on 21st November, 2022 and 3rd January, 2023, respectively, approved the acquisition of 49 percent of the issued share capital of Mayfair CIB Bank Limited by Commercial International Bank (Egypt) S.A.E. as per the Share Purchase Agreement dated 23rd November, 2022. (b) The Shareholders of Mayfair CIB Bank Limited and Commercial International Bank (Egypt) S.A.E. vide the Share Purchase Agreement signed on 23rd November, 2022, approved the acquisition of 49 percent of the issued share capital of Mayfair CIB Bank Limited by Commercial International Bank (Egypt) S.A.E. (c) On 24th January, 2023, the Cabinet Secretary for The National Treasury and Planning approved the acquisition of up to 49 percent of the issued share capital of Mayfair CIB Bank Limited by Commercial International Bank (Egypt) S.A.E. (d) The acquisition shall take effect on 31st January, 2023. Dated the 25th January, 2023. PATRICK NJOROGE, Governor, Central Bank of Kenya.

Dated the 25th January, 2023.

PATRICK NJOROGE,

Governor, Central Bank of Kenya.

Extracted Entities (1)

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661

Details

Act / Legislation: THE BANKING ACT
Reference: Cap. 488
Section: section 9 (1)
Signed By: PATRICK NJOROGE
Title: Governor, Central Bank of Kenya
Date Signed: 25th January 2023
Page: 2
Extraction Method: regex

Source Gazette

Vol. CXXV No. 20

Published 10th January 2023