•  I am informed that NIC Bank (formerly National Industrial Credit Bank Limited) was incorporated in Kenya on September 29, 1959 and started off as a non-bank financial institution providing hire purchase and instalment facilities. The institution became a public company in 1971 and was listed at the Nairobi Stock Exchange.
Against the backdrop of considerable uncertainty over the outlook for prices in view of uncertainties surrounding overseas economies and global financial markets, the Bank – with a view to achieving the price stability target at the earliest possible time – also decided that it would conduct a comprehensive assessment of the developments in economic activity and prices under QQE and QQE with a Negative Interest Rate, as well as the effects of these policies, at the next MPM.