The central bank of Kenya closed down 11 banks in 1993, and a
further (I think) three in 1994.
This may be too recent to merit consideration in a
history forum, but is anyone familiar with this development?
There is a lot of debate in my newsroom now, as we look at the
recent collapse of Meridien Bank International Ltd., headquartered in
Lusaka (and which is likely to destroy the PTA development bank of
southern/eastern Africa with it, I think), and as we look further
back at BCCI's failure in 1991, over where the Kenyan closures fit it.
Perhaps someone can suggest an expert to consult.
Thank you.