Tag: CBK

CBK penalises Absa Bank Kenya over foreign exchange lapses

CBK says that Absa Bank Kenya failed to adhere to financial transaction requirements, including conducting standard checks on anti-money laundering and know-your-customer policies.

CBK lowers the lending rate to 7.25 per cent, releases Sh35.2bn to banks

CBK also reduced the cash reserve ratio from 5.25 per cent to 4.25 per cent, which saw the bank release Sh35.2 billion back to banks.

CBK transfers Sh7.4bn nabbed after demonetisation to State account

Demonetisation of the older series Sh1,000 notes was announced on June 1, 2019, aimed at addressing grave concern of illicit financial flows.

CBK to quarantine money from banks, relaxes grace period for some borrowers

CBK says it will quarantine money out of banks for at least a week, a period Dr Patirck Njoroge says is enough for coronavirus to become inactive.

CBK lowers loan rate for the first time in 14 months

CBK says move informed by the ongoing tightening of fiscal policy and conclusion that there is need to support economic activity.

Uhuru orders CBK, stakeholders to speed up establishment of a central liquidity facility

Lewis Njoka @LewisNjoka Members of savings and credit co-operatives (Saccos) will soon enjoy cheaper loans after President Uhuru Kenyatta directed Central Bank of Kenya (CBK) and concerned stakeholders to fast-track establishment of a central liquidity facility. He said the centre would enable Saccos to participate in the national payment system and allow them to develop […]

Kenyans yet to understand demonetisation

By Lewis Njoka. Kenyans are concerned about how to tell genuine new currency notes from fake ones, Jamii Bora Bank customer service manager Linah Njogu has said. Njogu said although customers have responded well to Central Bank’s call to exchange the old Sh1,000 notes for new ones, many still visit banks seeking clarification on whether […]