The Standard Group Plc is a multi-media organization with investments in media
platforms spanning newspaper print
operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a
leading multi-media house in Kenya with a key influence in matters of national
and international interest.
Central Bank of Kenya (CBK) did not violate any law by ordering banks to connect directly to an international network for money exchange services, the High Court has found.
While dismissing a case filed by Kenya Commerce Exchange Services Bureau (Kenex), an intermediary that provided Swift services for close to two decades, Justice Hedwig Ongu'ndi found that CBK was just doing its work as a regulator and did not force any bank to abandon the firm.
Swift (Society for Worldwide Interbank Financial Telecommunications) is a messaging network that financial institutions use to securely transmit information and instructions through a standardised system of codes.
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