CBK directs banks to review their compliance to anti-money laundering laws

The Central Bank of Kenya has directed all commercial banks, microfinance institutions and mortgage finance companies to nominate “an independent and competent external third party” to evaluate the institution’s compliance to anti-money laundering and combating the financing of terrorism programs. Financial institutions are expected to submit profiles of their independent nominees to CBK for approval. … Continue reading CBK directs banks to review their compliance to anti-money laundering laws