The Governor of the Central Bank of Lesotho, Mr. Motlatsi Matekane, as Commissioner of Financial Institutions, on Wednesday 02 August 2006, licensed Kish City Bank to operate in Lesotho.   The Licence is in terms of Section 4 of the Financial Institutions Act 1999, Act No. 6 of 1999 and allows Kish City Bank to carry on Merchant Banking Business in the country. 

Kish City Bank Lesotho Limited is the first merchant bank in Lesotho. Its operations involve extension of credit to individuals and/or companies, but does not accept deposits from the public.  It also performs portfolio management for individuals and/or companies investing in other banks within or outside Lesotho.

Kish City Bank Lesotho Limited is expected to commence its operations within six months following the issue of a licence.

03 August 2006