NYS cases expose Central Bank limitations in policing lendersCentral Bank of Kenya Building on Haileselasie Road Nairobi. SEE ALSO :Central Bank offers borrowers relief from interest rate hikes“CBK should be managing the reputation risk of the system. The duty to ensure genuineness of inward SWIFT payments from NYS to KCB Bank customer accounts through CBK, rested with CBK as the remitter bank,” it said. Reports by news site Bloomberg also pointed to collusion between staff at CBK and Imperial Bank. Former CBK Governor Andrew Mullei, commenting on the collapse of Imperial Bank, also faulted CBK officials for being too cosy with lenders.

Source: Standard Digital February 10, 2019 09:33 UTC