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The Central Bank of Kenya (CBK) has appointed Kenya Deposit Insurance Corporation to liquidate Charterhouse Bank (CHB), 15 years after it was placed under statutory management over claims of money laundering.
A report by the statutory manager on May 6 recommended that the bank be liquidated. “The report indicates that because of the severe violations of the Banking Act by the bank and its inability to address them, liquidation is the only feasible option," Central Bank said in a statement.
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