Central Bank of Kenya freezes licensing of new commercial banks
SEE ALSO :Rid Kenya of unlicensed forex dealersLast month, the central bank placed privately owned Imperial Bank under receivership after Imperial's board alerted it to malpractices at the lender. The central bank said later it had unearthed fraud within Imperial Bank, but that the bank was still viable and shareholders were considering a proposal to inject capital. Last week, it said it was concerned that the shareholders of Imperial Bank were not acting quickly enough to come up with a plan to revive the mid-sized lender.
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