2016-08-12 | 1473716485

Banking Circular No 3 of 2016 - Implementation of Communications on Specified Entities

The circular issued by the Central Bank of Kenya instructs commercial banks and mortgage finance companies to freeze all accounts and funds related to a specified list of entities, including Al-Shabaab and Al-Qaeda, and to cease providing financial services to these entities. Institutions must comply with the Prevention of Terrorism (Implementation of the United Nations Security Council Resolutions on Suppression of Terrorism) Regulations, 2013, and file suspicious transaction reports with the Financial Reporting Centre. The circular emphasizes the importance of updating the Central Bank on actions taken within 48 hours.

Kenya

Central Bank of Kenya

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