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NSE Stocks FAQs Archives - Family Bank Limited, Kenya

What is the role of Family Bank Shares Department as regards NSE stocks?

Family Bank works hand in hand with brokers to effect NSE stocks-related dealings which include:

  • Sale of shares
  • Purchase of shares
  • Opening of accounts/amendment of addresses, names, etc.
  • Immobilization of shares
  • Transfer of shares from one broker to another
  • Transfer of shares from a deceased shareholder to the beneficiary
  • Placing of shares under lien
  • & Unfreezing of shares
Who handles shareholder-related queries?

Queries related to NSE stocks owned by Family Bank customers are overseen and managed by the Shares Administrator and Shares Manager, who are available to the service of shareholders at all times. The queries are raised through our branch network and channeled to the Head Office for action through Standard Investment Bank.

Which other corporate bodies does Family Bank work with in relation to NSE stocks?

NSE, CDSC, Image Registrars, RBA & CMA

What are the requirements of opening an account with the CDSC?

Customer must fill a CDS1 form and provide a certified ID / passport copy & 2 passport size photos.

Account opening normally takes 1(one) day.

How can a shareholder amend their already existing CDS account details?

A shareholder may want to amend the address and names in their CDS account. In this case, they are required to fill CDS1S account and attach a certified ID / passport copy and documentation showing the change of names.

How can a shareholder purchase or sell shares?

Client must have an existing CDS account; if not, a new account is opened with the broker to facilitate the order.

For sale, a Securities Order Form is filled and certified ID copy is attached.

Share Proceed Cheques are then submitted to the head office by the brokers for onward transmission to branches.

For purchase, the mode of payment agreed on is used and receipt attached to the order form and certified ID copy.

How can a shareholder immobilize his/her shares?

A CDS2 form is used to convert shares from certificate form to electronic form.

Client must have an existing CDS account. Client must fill in the form as instructed and append his/her signature where required. One form is used for each security type.

The client is required to attach a copy of his/her ID, a copy of the CDS or broker statement, a copy of any utility bill, and a copy of any dividend notice that he/she has to the shares certificate and the CDS 2 form.

The client is then given a pink copy of the duly filled form.

How can a shareholder transfer shares from one broker to the other?

A shareholder may want to transfer shares from one broker to the other for his/her own reasons.

A CDS4A/B form is required to transfer clients’ holdings from one Central Depository Agent (CDA) to the other. The CDS4A is filled and signed at your current broker and the 4B at the new broker. Both applications will be forwarded to CDSC, together with a KES 200 payment in form of a banker’s cheque.

Alternatively, the combined form CDS 4A/4B can be filled following the same process.

How do you place shares in lien?

A CDS5 form is used to freeze (pledge) shares.

This means that you as a client will not be able to transact on those shares unless instructed by both the bank and CDA. The CDSC performs this process. The client will required to provide a letter from the bank authorizing CDSC to pledge the respective shares. He/she is also required to fill in the CDS 5 form as instructed, append signature and also have the branch manager of the pledging bank sign on the form too.

Once the forms are presented to the broker, along with a cover letter from the bank and a fee of KES 1, 000, they are then forwarded to CDSC for further processing i.e., freezing of shares.

This process should take 3 or 4 days from the day the broker dispatches the documents to the CDSC.