A Petition was filed on November 30, 2018 (High Court of Kenya at Nairobi Constitutional Petition No. 426 of 2018) challenging Section 65 of the Finance Act 2018 that introduced Section 33(C) of the Banking Act. The Attorney General is the first respondent and the National Assembly is the second respondent, while the Central Bank of Kenya is the first interested party.
The High Court under its special Constitutional jurisdiction under Article 165(2)(d) will determine the matter and give an interpretation. The various parties have filed their submissions and the matter is scheduled for hearing on March 29, 2019. We await a determination by the court. I thank you for your attention. 9