2016-08-12 | 811282348

Microfinance Banking Circular No 1 of 2016 - Implementation of Communications on Specified Entities

The circular issued by the Central Bank of Kenya on July 27, 2016, instructs microfinance banks to freeze all accounts and cease providing financial services to a list of specified entities, including Al-Shabaab and Al-Qacda, as declared by the Cabinet Secretary for Interior and Coordination of National Government on March 14, 2016, under the Prevention of Terrorism Act. Institutions are also instructed to comply with the provisions of the Prevention of Terrorism (Implementation of the United Nations Security Council Resolutions on Suppression of Terrorism) Regulations, 2013, and to report any suspicious transactions to the Financial Reporting Centre.

Kenya

Central Bank of Kenya

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