Cash withdrawn from banks slows to 10-year low as CBK rules bite

Cash flow from banks registered its slowest growth in a decade in 2018 after Central Bank of Kenya (CBK) instituted stringent rules aimed at curbing illicit money.

Official data from Kenya National Bureau of Statistics shows that money outside of banks increased by a paltry two per cent in 2018, the slowest since 2008 when it declined by two per cent due to post-poll crisis that rocked the country that year.