Role of Financial Institutions and the Central Bank in Kenya

Question 1: Briefly explain role of the following Financial Institutions in the economic development of Kenya: a) Kenya Industrial Estates: Kenya Industrial Estates (KIE) Limited was established in 1967 as a subsidiary of Industrial and Commercial Development Corporation (ICDC) with a major role of promoting indigenous entrepreneurship by financing and developing small scale and micro enterprises. KIE Limited was established to facilitate development and incubation of micro, small and medium enterprises (MSMEs) countrywide by establishing industrial parks, providing credit and business development services (BDS) in a sustainable manner. The services offered by KIE include; * Development of Industrial Estates and Provision of MSMI†¦show more content†¦Business SME solution centre’s are facilities that are set up to offer platforms from which entrepreneurs can develop business ideas into profitable business ventures run and owned by individuals. It also provides breeding grounds for existing business for growth and take-off. b) Industrial amp; Commercial Development Corporation (ICDC):ICDC is the pioneer Development Finance Institution (DFI) established in 1954, to facilitate economic development of Kenya through provision of medium and long-term financial solutions. * It provides equity solutions to entrepreneurs through Joint ventures and Strategic partnershi ps to promote and encourage private sector investment and entrepreneurship for job and wealth creation. * ICDC also seeks to grow existing businesses and promote establishment of new ones through provision of corporate and wholesale loans at competitive rates and also through asset financing. * ICDC also provides Management and Advisory Services to corporate institutions. The Services offered include: * Corporate Secretarial * Share Registration * Internal audit c) The Agricultural Finance Corporation (AFC): AFC is a wholly owned Government Development Finance Institution (DFI), established in 1963 initially as a subsidiary of the Land and Agricultural Bank. In 1969, it was incorporated as a full – fledged financial institution under the Agricultural Finance Corporation Act, Cap 323 of the laws of Kenya. ItShow MoreRelatedCommercial Banking in Kenya4222 Words   |  17 PagesCOURSE: BCOM 330; Financial Institutions and markets TASK: TERM PAPER TITLE: COMMERCIAL BANKING IN KENYA PRESENTED TO: MRS. BOSIRE MARY PRESENTED ON: 19TH October 2011 ABSTRACT: This term paper analyses the commercial banking system in Kenya. In particular it focuses on the history of commercial banks from a general perspective then narrows down to Kenya’s context. It looks at the importance of commercial banks in Kenya, the roles/functions of commercial banks. It then focusesRead MoreFunctions of Central Bank1440 Words   |  6 PagesINSURANCE CENTRAL BANK A central Bank is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. The central bank often also oversees the commercial Banking system within its country. A central Bank is distinguished from a normal commercial bank because it has a monopoly and creating the currency of that nation, which is usually that Nations legal tender. Central Bank of Kenya is the highest Banking institution in the countryRead MoreFinancing of University Education in Kenya1703 Words   |  7 PagesQN) With close reference to university education in Kenya, discuss the various means of financing education and evaluate the equity implications. To answer this claim, we start by defining critical terms so as to clearly get the full meaning of this assertion. 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Signature†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Date†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreCredit Risk Management and Profitability of Commercial Banks in Kenya14066 Words   |  57 PagesCREDIT RISK MANAGEMENT AND PROFITABILITY OF COMMERCIAL BANKS IN KENYA BY ANGELA M. KITHINJI SCHOOL OF BUSINESS, UNIVERSITY OF NAIROBI, NAIROBI – KENYA. akithinji@yahoo.com or akithinji@uonbi.ac.ke OCTOBER, 2010 TABLE OF CONTENTS 1.0 INTRODUCTION....................................................................................................................1 1.1 Background ....................................................................................................................Read MoreConceptual, Legal And Regulatory Framework Governing Cross Border Mobile Transactions Essay1723 Words   |  7 Pagesgoverning cross border mobile transaction taking into consideration all the players and stakeholders involved in the transfer. 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A Report On A Government - 854 Words

A government should always be open to criticism, be held accountable for their actions, and be honest when notifying the public of any events. This creates government transparency and allows its citizens to hold their leaders accountable for their actions. In order to create this transparency in today’s society, a technical system must be set in place. This technical system needs to contain government documents which are easily accessible to the public. But, not all documents should be housed in this accessible database. Some government knowledge should be kept secret and inaccessible, because it could fall into the wrong hands. Documents containing economic information, such as budgets and spending should be readily available on a database for the public to access. Without a transparent government, citizens can become unruly and no longer trust their government due to the high volume of secrets or hidden documentation. Solution I My first solution to this issue is to open a cloud database which would house any documents containing government budgets, spending, and/or salaries. This database would be accessible to everyone with the means to access a cloud database. The database could be accessed via an application downloaded onto a computer or mobile phone. There is already an app with these specifications available for Montgomery County in Maryland. The app was built by Socrata, a Seattle-based cloud software company, in order to encourage citizen engagement within theirShow MoreRelatedA Report On Nigerian Government1250 Words   |  5 PagesDue to Nigeria’s corrupt government, their citizens are deprived of the steadly revenue that the country makes thru the oil companies operating in their country. Most profits are taken from the public and are kept held with Nigerian officials. People in the Nigeria are currently living in extreme poverty. 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The Demolition Market-Free-Samples for Students-Myassignmenthelp

Question: Describe the salient features of part I and Part II of the BIMCO Standard Contract for the sale of vessels for demolition and recycling: and highlight at least five common clauses nromally found in this demolishcon 2001 (2004) contract; and stating why the demilition market is more favourable in less developed contries. Answer: Demolishcon is the revised version of previous salescrap 87 contract used for negotiation while selling a vessel for the purpose of recycling and demolition. The clauses of this document were grouped in two parts(Grube, 2006). The features of these are discussed below in brief: Part I This part of the document mainly covers the details regarding the ship to be sold for recycling. It contains the name and address of the owner of the ship, IMO number, IMO registered owner identification number, IMO company identification number, Ship gross tonnage, port of registry, distinctive letters or number of ship and date of construction, etc. In other words, it contains all the physical details of the ship, the place where it is sold, buyers and sellers information, selling details, etc. Part II This part starts with a preamble of undertakings of both the parties i.e. seller and buyers to comply in accordance to the industry code of practise for selling recycling in a safe and environmentally sound manner. This explains the procedure to be followed for selling of the vessel and provides an outline and the way by which the contractual parties can best act. This contact has to be as per the national and international stated in accordance with clause 17. The 5 clauses which more or less are common which are as follows: Clause 2 (Purchase price) and Clause 4 (Payment): These two clauses are common as both is related to the price of the contact(Puthucherril, 2010). Clause 2 is about the price of the ship set out by the contractual parties while is about the release of same payment which was decided after the timely delivery of consignment. Clause 6 (Advance Notice of Arrival), clause 7(Notice of Readiness of Delivery) and clause 8(Delivery): All these 3 clauses are related to the delivery of the vessel. Clause 6 states the prior notice to the buyers about the vessel position and estimated arrival time of the vessel. Clause 7 states the notices of readiness of the physical delivery of the vessel while clause 8 sets out the conditions in which the vessel must be delivered. As all 3 states the delivery terms and conditions, it could have been explained under one clause. The demolition market is more favourable in less developed or developing countries due to the lax environmental regime. These includes mainly the Asian countries like China, India, Bangladesh and Pakistan where the labour cost is very low in comparison to the western countries. Despite these countries are under Basel convention, they do not follow any safety environmental precaution due to high internal corruption. The other factors being the demand of steel in the domestic market, good value of machinery and other reusable items in the second-hand market and the difference in exchange rate i.e. US dollar against the local currency promotes created bigger market in these less developed countries. China, India and Bangladesh are the 3-major player in this market. China is the leading followed by India and Bangladesh. Bibliography Grube, P. (2006). BIMCO. Retrieved from https://archive.basel.int/ships/docs/11e.pdf Puthucherril, T. G. (2010). Legal Aspects of Sustainable Developments. Boston: Martinus NIJHOFF.

The Mafia Is Name For A Loose Association Of Criminal Groups, Sometime

The Mafia is name for a loose association of criminal groups, sometimes bound by a blood oath and sworn to secrecy. The Mafia first developed in Sicily in feudal times to protect the estates of the landlords. By the 19th century the Mafia had become a network of criminal bands that controlled the Sicilian countryside. The members were bound by Omerta, a rigid code of conduct that included avoiding all contact and cooperation with the authorities. The Mafia had neither a centralized organization nor a real leader; it consisted of many small groups, each secret within its own district. By employing terroristic methods against the government figures, the Mafia attained political office in several communities, thus getting influence with the police and obtaining legal access to weapons. Benito Mussolini's Fascist government succeeded for a time in suppressing the Mafia, but the organization emerged again after World War II ended in 1945. Over the next 30 years the Mafia became a power not only in Sicily but all over Italy as well. The Italian government began an anti-Mafia campaign in the early 1980s, leading not only to a number of arrests and sensational trials, but also to the assassination of several key law-enforcement officials in getting revenge. Public outrage was tempered by the arrest in 1993 of the reputed Mafia leader, Salvatore Riina. Beginning in the late 19th century, some members of the Mafia immigrated to the United States. They soon became involved in American organized crime, especially in the 1920s during Prohibition. After the ending of Prohibition in 1933 so did most bootlegging, the Mafia moved into other areas, such as gambling, labor racketeering, prostitution, and, in recent years, narcotics. Links with the Italian Mafia were also maintained. As in Italy, prosecution of reputed Mafia leaders in the United States increased in the 1980s and 1990s. Responsible groups of Americans have, at times, waged campaigns in the media to obliterate any assumption that crime in the United States is dominated by people of Italian descent, claiming that the existence of an American Mafia had not been fully established. It has not been until later times that the realization that the mafia still exists has taken place. There were many famous figures in the mafia who had come to power. Al Capone has become one of the most famous to have gained such publicity. Al Capone was an Italian-American gangster of the Prohibition era, also known as Scarface because of a knife cut to his cheek. He was born and given the name Alphonse Capone in Naples, Italy, and raised in Brooklyn, New York. He left school at an early age and spent nearly ten years with gangs in Brooklyn. In the 1920s he took over a Chicago organization dealing in illegal liquor, gambling, and prostitution from the gangster Johnny Torrio. In the following years he eliminated his competitors in a series of gang wars, culminating in the Saint Valentine's Day massacre of 1929, that won him control of Chicago's underworld. Convicted of income tax evasion in 1931 and sentenced to 11 years in prison, he was released on parole in 1939. Crippled by syphilis, he spent the rest of his life in his Miami Beach, Florida, mansion. Some of the most brutal attacks from the mafia came in their native land in Italy. The Red Brigades, a mafia sect, launched a big wave of assaults on politicians, police, journalists, and business executives. The attacks ended with the 1978 kidnapping and murder of former Italian Prime Minister Aldo Moro. The Red Brigades subsequently disintegrated as police arrested and imprisoned members and supporters of the gang. In the late 1980s and early 1990s the Sicilian Mafia lead a series of terrorist attacks in reaction to the Italian government's prosecution of leading Mafia figures. The Uffizi Gallery in Florence was among the targets of a series of terrorist bombings in 1993 alleged to be the work of the Mafia. Vendettas were used by mafia families that were in personal wars with each other. A Vendetta was a practice of a family taking vengeance on the person who shed the blood of one of its relatives. Vengeance is taken in kind, that is, an eye for an eye, and may also