Month: October 2019

Data Analysis

With all entries into the account verified, IRAC then re-computes the interest on the Overdraft and Loan Accounts to ensure it is mathematically accurate and legal in conformity with your Banking Facility Letter/s and with The Banking Act and The Central Bank of Kenya Act. First, IRAC recommends that a Historical Verification of your credit …

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Finance Cost Assurance…For Finance Managers and Chief Accountants

The software behind FCAS has been developed in Kenya over a period of 7 years. It is specific to Kenya’s banking environment. It caters for and can deal with every and any possible operational permutation practiced by any bank in Kenya. It has been developed by lawyers, mathematicians, accountants and auditors. It is, simply stated, …

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Litigation Support…to the Advocates

Interest Recalculation, Finance Cost Assurance and reconstruction of financial facilities is a complicated process. Everything turns on the interpretation and meaning of contractual documents and the applicable law governing these contracts. If and when a dispute between a Client and a bank goes to litigation, the basis of the Interest Recalculation becomes critical. Despite their …

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Interest Verification

IRAC’s business model is premised on one fact; that banks, like any other business concern, make mistakes in their handling of Loans, Overdrafts, Mortgages and other accounts. Banks, as a matter of fact, invite the lender to verify the transactions as reported on the bank statements of account. The reasons for the overcharge are several. …

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