By gatuyu tj This article was first published in the Business Daily Naysayers have been waiting for the bitcoin bubble to burst. Instead, bitcoin, a decentralised cryptocurrency, has over the years grown value and gained fame. Policy makers and central banks are grappling to offer clarity on the place of bitcoins in the financial system. However, … Continue reading Tax concerns in mining and trading bitcoins

By gatuyu tj Once upon a time, this being before August 2015, there was rule, based on common law. It was the rule in Foss v Harbottle. It affirmed, that a company is a separate legal personality, distinct from its shareholders. Thus, a shareholder could not bring an action on behalf of the company, however aggrieved. … Continue reading Why derivative actions against companies are becoming so popular in Kenya

Not long time ago, a debtor, to defeat his creditors, would cause to be adjudged bankrupt. Or like the son of Moi, a famous citizen, file bankruptcy to avoid paying maintenance for an estranged wife. In those days, one would be adjudged bankrupt for committing, what was called, an act of bankruptcy. There were eight … Continue reading Why Jirongo’s Bankruptcy Tricks Will Backfire

By gatuyu t.j Introduction Central banks wear many caps. They formulate, and implement, monetary policies of their countries. They ensure stability in general level of prices. It is their mandate, to foster a stable, market-based, financial system. They will often be called by their governments’ to support efforts of actualising economic growth and employment creation. … Continue reading Muscles of Central Banking: Analysing Tools of Monetary Policy in Kenya

Rotich Henry, Treasury Cabinet Secretary, has made capital markets Regulations to regulate online foreign Forex traders in Kenya. In the Regulations, Rotich has banned binary options. Many have been left wondering. What are binary options? Why should they be banned? We shall explain. An option is a contract, that gives a buyer a right, but … Continue reading Why Henry Rotich has banned Binary options in Kenya

By Gatuyu Justice This piece was first published in the Business Daily on Wednesday, September 20, 2017. It's available here One of Kenya’s biggest lenders has recently announced it was weighing the prospect of cutting back on disbursement of personal loans guaranteed by salaries. This impending change in lending strategy is apparently being driven by expected … Continue reading New accounting standards could affect bank lending

By gatuyu t.j Teach them, the Sunnah. Read them, the Quran. And they, will be commercially inspired. In the year 1998, the Islamic board of the Dow Jones Index issued a fatwa. It decreed certain "permissible impurities" in issuance of equity Islamic instruments and set out methods of cleansing them. With that, modern Islamic financial … Continue reading Ingenuity in Structuring Islamic Banking Products

  By gatuyu Justice Multinationals look at tax treatment of an entity or instrument under the laws of various tax jurisdictions and use the one that would lead to double non-taxation or long-term deferral.  Introduction Sovereign states do set their municipal tax systems as they deem fit. They determine entities or instruments which are subject … Continue reading Neutralizing the Effects of Hybrid Mismatches in Cross Boarder Taxation

By Gatuyu J. On Friday 1 September 2017, shortly after the Supreme Court pronounced its verdict on the petition on presidential election, trading at the Nairobi Securities Exchange (NSE) experienced a large intra-day trading price swing, causing a temporary trading halt. The last time trading was halted due to the index going below the permissible … Continue reading Temporary Apocalypse of the Nairobi Securities Exchange

This article was first published in the Business Daily Available Here By Gatuyu Justice During the just-ended elections, President Uhuru Kenyatta and activist Boniface Mwangi explored different strategies to raise campaign funds. Whereas Mr Kenyatta raised money by holding a private dinner with a coterie of high-net-worth supporters, Mr Mwangi carried out a passionate social media … Continue reading Kenya Needs Reforms to Open Crowdfunding Tap