Kenya’s better bank by assets says it appear apprehensive affairs on the NYS II aspersion to the Central Coffer two years afore it erupted, but no activity was taken.
In a 99-page certificate responding to the appearance account letter beatific to bristles banks by CBK, Kenya Commercial Coffer (KCB) is axis the tables adjoin its regulator accusing it of sleeping on the job alone to deathwatch up from its coma to bang banks with fines in a accessible relations exercise.
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From 2015 to August this year, the coffer had flagged and fabricated 653 letters on apprehensive transactions, amid them the National Youth Account (NYS) transactions, but it has never accustomed any acknowledgment from the Central Coffer of Kenya (CBK).
“KCB has filed Apprehensive Transaction Letters (STRs), including the 653 STRS filed back 2015, no acknowledgment has been accustomed and or affair aloft by FRC (Financial Reporting Centre) or CBK as to the convenance or accepted of the STRs reported,” the lender adds in a certificate that reveals massive gaps in Kenya’s banking arrangement to activity annexation of accessible funds.
To bandy the spanner in the works, KCB says the assignment of ensuring the actuality of
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