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Bank bosses face sanctions for forex manipulation in probe

CBK Governor Kamau Thugge before Parliament's Finance and National Planning Committee on Tuesday. [Elvis Ogina, Standard]

The banking regulator has stepped up its probe into possible forex manipulation breaches by unnamed ten commercial banks which will lead to stiff penalties for the lenders if they are found culpable.

Central Bank of Kenya (CBK) said its full-scale investigation focusing on the 10 banks had roped in members of their boards and top management ahead of a determination of its findings.

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