Central Bank Of Kenya News

Kenya ranks fifth in Africans working legally in US – report

A survey by the Central Bank Of Kenya indicated that Kenyans living and working abroad remitted a record Sh64.5 billion between January and March 2018.

The Star , Kenya Nov 16, 2018

CBK penalty pushes banks to raise vigilance

Central Bank Of Kenya (CBK) said the lenders had not done enough to stop the looting and fined them for lapses in their systems.

The Standard , Kenya Nov 16, 2018

Upesi Money Transfer; The safe, convenient and affordable way of transferring money Kenya News

They are licenced and regulated by the Central Bank Of Kenya (CBK) in Kenya and by the Financial Conduct Authority (FCA) in the United Kingdom.

Tuko , Kenya Nov 16, 2018

KCB, Equity, Cooperative banks to pay KSh 393 million fine for facilitating NYS scam Kenya News

- The banks had been slapped with the huge fine for illegally transacting with money swindled from National Youth Service - Central Bank Of Kenya said it had taken the penalty was vital for curbing money laundering and countering financing of terrorism - The banks wrote to the CBK to review the exorbitant fines and reduce penalty - The banks; regulator however stated submissions by the five top banks was shallow and didn't warrant a reduction of the fines The Central Bank Of Kenya (CBK) has refused to review downwards KSh 392.5 million fine imposed on five banks for transacting illegally with money stolen from National Youth Service (NYS).

Tuko , Kenya Nov 16, 2018

Uhuru vows NYS will be safeguarded to eliminate graft

His statement came as the Central Bank Of Kenya (CBK) declined to reverse the Sh392 million penalties slapped on five banks implicated in the NYS scam.

Capital News , Kenya Nov 16, 2018

CBK upholds fines on five commercial lenders over NYS scandal

CBK evaluated the monetary penalties for Standard Chartered Bank Kenya, Equity Bank Kenya, KCB Kenya, Co-operative Bank of Kenya and Diamond Trust Bank Kenya in regards to the extent of violation that were identified pursuant to CBK’s powers under the Banking Act and the Central Bank Of Kenya Act.

The Standard , Kenya Nov 16, 2018

Banks fail to reverse CBK's Sh392m fine for handling illicit NYS

Market News Banks fail to convince CBK to reverse Sh392m penalty over NYS scam Five banks used in handling stolen National Youth Service (NYS) funds have failed to convince the Central Bank Of Kenya to drop or alter the Sh392.5 million fine imposed on them in mid September.

Business Daily Africa , Kenya Nov 16, 2018

CBK upholds Sh392m bank penalties over NYS scam

Five banks used in handling stolen National Youth Service (NYS) funds have failed to convince the Central Bank Of Kenya to drop or alter the Sh392.5 million fine imposed in mid September.

Daily Nation , Kenya Nov 16, 2018

Five banks lose bid to block Sh392m CBK fine over NYS scandal

The Central Bank Of Kenya (CBK) on Friday said the banks presented insufficient responses on why they should not be penalised.

The Star , Kenya Nov 16, 2018

Kenya central bank upholds fines against lenders for suspect transactions

“CBK (Central Bank Of Kenya) has reviewed each bank’s response to the penalty assessment and has concluded that the submissions were not sufficient to alter the findings of the investigations and the penalties assessed,” the bank said.

Reuters , Africa Nov 16, 2018