East African Community member states are working on joint rules and regulations to rescue troubled banks, as part of measures to enhance the stability of the sector in the region. The region’s deposit insurers started by sharing information on best practices as a first step to merging the rules and regulations governing the protection of depositors’ cash in the region.
The insurers are considering the possibility of adopting a common framework for addressing the issues facing financially distressed banks to avert further failures. Read more. Source | East African