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CBK suspends Absa Bank for violating forex market rules

An Absa Bank branch on Mama Ngina Street, Nairobi. [Wilberforce Okwiri, Standard]

Absa Bank Kenya has been kicked out of foreign exchange trading for a week following violation of anti-money laundering regulations.

In a statement yesterday, financial sector regulator Central Bank of Kenya (CBK) said Absa, formerly Barclays Bank of Kenya, flouted several regulations in some forex trading conducted last month.

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