2023-09-14 | 282465977

Banking Circular No. 11 of 2023 - Request for Information on Unlicensed or Unauthorized MVTS

The Central Bank of Kenya (CBK) has issued a circular to commercial banks and mortgage finance companies, reminding them of the legal and regulatory framework that governs banking business in Kenya. The CBK has identified several areas of non-compliance, including corporate governance, risk classification of assets, provisioning, outsourcing, and charging of fees without approval. The bank reminds institutions of the consequences of non-compliance, which can result in enforcement actions as specified under the Banking Act.

Kenya

Central Bank of Kenya

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