[Standard]Regulators have continued to blame each other over the doomed Sh2 billion Imperial Bank bond even as investors’ six-year wait for answers continues. In 2015, Imperial Bank issued a corporate bond to support its working capital and liquidity position. However, KDIC Chief Executive Mohamud Ahmed Mohamud contradicted Shamiah’s claims. There is no such thing as a separate bank account for the bond cash that we found at Imperial Bank,” said Mr Mohamud. He dismissed claims by CMA that the bond, which was in the receiving bank (ironically, Imperial Bank), was still there.

Source: Standard Digital July 26, 2021 12:56 UTC