CBK faces a barrage of cases over the forced closure of Dubai Bank in August 2015, Imperial Bank in October 2015 and Chase Bank in April 2016. By PETER WARUTEREMore by this AuthorThe role of the financial sector in supporting economic growth and equity is under threat. CBK faces a barrage of cases over the forced closure of Dubai Bank in August 2015, Imperial Bank in October 2015 and Chase Bank in April 2016. Former finance manager Chadwick Okumu has faced disciplinary proceedings since October 2016 over the publishing of “incorrect and incomplete” accounts. Investors should be concerned that CBK is constrained to provide sufficient protection to customers and shareholders of banks and other financial intermediaries.

Source: Daily Nation May 30, 2018 19:18 UTC