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==Procedure==
A microfinance institution applying for renewal of business license shall present the following

:* Submit an Application letter for renewal

:* application requesting renewal of business license and any changes in the particulars of the existing license;

:* original business license of the microfinance institution; and

:* evidence of payment of renewal fee and/or penalty.

:* Resolving of any pending issues (if applicable)

:* Present the Original License of the MFI

==Required Documents==
:* Evidence of registration of trade name from Ministry of Trade.
:* Signed minutes of first meeting of organizers along with attendance sheet.
:* Submission of prospectus, which is a printed statement that describes and forecasts the course or nature of the company along with expected risks, to be distributed to prospective investors.
:* Written Renewal application requesting to open blocked subscription account indicating the name of the bank(s)/branch (es).
:* Duly completed application form, as specified under Attachments I and II of these Directives, for organizers and project manager.
:* Properly completed propriety test questionnaire, as specified under Attachment III of these Directives, for organizers and project manager.
:* Evidences of payment of investigation fee.

==Office Locations & Contacts==
'''Central Bank of Kenya - Head Office''' 
Haile Selassie Avenue 
P.O Box 60000 – 00200, 
Nairobi, Kenya 
Tel / Fax: +254 20 286 0000 
Phone: +254 20 286 1000, +254 20 286 3000, +254 709 081 000, +254 709 083 000 
Email: comms@centralbank.go.ke 
[https://www.centralbank.go.ke/contact-us/ CBK Contact Details] 
 
==Eligibility==
:* Must be a company operating a Micro finance Bank and registered under the Companies Act as a limited liability company whose main object is to conduct foreign exchange bureau business.
:* A Renewal of microfinance Bank may be established by any eligible corporate body or corporation duly licensed by the Central bank of Kenya to accept deposit and pay out deposiit.
:* A Microfinace applicant must be a Kenya Nationality and have been in a Microfinance.

==Fees==
:* A microfinance institution applying for renewal of its business license shall pay renewal fee of Kshs 10,000

:* Payment of license renewal fee of Ksh.5000

==Validity==
Valid for 1 Year.

==Documents to Use==
Please attach documents that can be used by people. e.g. links

==Sample Documents==
Please attach sample completed documents that would help other people.

==Processing Time==
Processing take 7 working Days.

==Related Videos==
Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M".

==Instructions==
:* No person shall carry out a Microfinace Bank business unless he/she is in possession of a Microfinance Bank business License.
:* A person who fails to contravenes or fail to comply with section shall be guilt of any offence and shall be dealt with in accordance with law.
:* Has to be organized in the form of share company
:* Minimum No. of founders have to be five
:* The shareholders have to be a Kenyan nationals or organizations wholly owned by Kenyan nationals.

==Required Information==
:* Full Name of Applicant
:* Address of Applicant
:* Location of Foreign Exchange Bureau
:* License Number
:* A tax clearance certificate.
:* Evidence of provisional tax payment
:* Full names, addresses and designations of the employees of the bureau.

==Need for the Document==
A micro finance institution shall renew its business license every year. A micro finance institution applying for renewal of its business license shall pay renewal fee of 10,000

==Information which might help==
Enter other informations which might help

==Other uses of the Document/Certificate==
Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

==External Links==
http://www.bu.edu/bucflp/files/2012/01/Microfinance-Act.pdf

https://www.centralbank.go.ke/index.php/banksupervision

==Others==
More information which might help people.

[[Category:Kenya]]

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Kenya - Renewal of Microfinance Bank License - Revision history

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