November 16, 2018 / 7:35 AM / 25 days ago

Kenya central bank upholds fines against lenders for suspect transactions

NAIROBI, Nov 16 (Reuters) - Kenya’s central bank has upheld the fines it imposed in September against five top commercial lenders for a failure to report suspicious transactions in connection with the theft of funds at a state agency, it said on Friday.

“CBK (Central Bank of Kenya) has reviewed each bank’s response to the penalty assessment and has concluded that the submissions were not sufficient to alter the findings of the investigations and the penalties assessed,” the bank said.

Reporting by Duncan Miriri; editing by David Evans

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