Regulatory Alerts2014-09-02
Banking Circular No 5 of 2014 - Implementation of the UN Security Council Resolutions on Central African Republic
The Central Bank of Kenya has issued a circular to commercial banks, mortgage finance companies and microfinance banks regarding the implementation of United Nations Security Council Resolution 2127 (2013) concerning sanctions against individuals involved in the unstable situation in the Central African Republic. This resolution includes individuals such as former president Francois Yangouvonda Bozize, Levy Yakite and Nourredine Adam on a list of individuals subject to travel and financial sanctions. The circular requires these institutions to take appropriate measures according to Regulation 27(3) of the Proceeds of Crime and Anti-Money Laundering Regulations, 2013. They are also asked to confirm by September 15th if they have any business relationships with the sanctioned individuals. Any queries can be directed to The Director, Bank Supervision Department Central Bank of Kenya.