Good to see that the one international Barclays bank mutate to regional bank under new wall ABSA
It has maintained the dividend though they say they are still spending to re-brand.

It is a new kid on the street and i see it will start acquiring other small banks and societies soon to keep it as tier 1

This is still an indicate Africans should grow their businesses as the White heirs/heiress are incapable of maintaining their forefathers businesses.

We ought to start producing more and improving by processing to finished products and services.

Barclays was built on stolen wood and forced labor.

Regulator punishes Absa Bank Kenya over anti-money laundering rule lapses

NAIROBI, April 9 (Reuters) - Kenya’s central bank has ordered Absa Bank Kenya to stop foreign exchange dealing between April 9 and April 15 for failing to observe anti-money laundering rules on some trades, the regulator said.

The central bank said it took action over some foreign exchange trades Absa Bank carried out in March, and said Absa also failed to satisfactorily make “know your customer checks” in the trades.

“Absa Kenya is required to ... reverse the market positions that were created as a result of the flagged transactions,” the central bank said in a statement. (Reporting by George Obulutsa; Editing by Jon Boyle)

Where is the punishment in that statement? The period Absa Kenya is blocked from forex market is mostly a Bank holiday (Easter weekend)...unless by "reversing the transaction" means Absa Kenya takes the hit of the amount transacted i.e The Client has already bolted with the money.

Yada, yada, yada.

The decision by CBK has been criticized by a number of legal analyst and economists.

Through social media platform twitter Senior Counsel (SC) Ahmednasir Abdullahi, accused CBK Governor of micro-managing banks.

He further claimed that the Governor was using coercive administrative tools to strengthen the shilling against market forces and intimidate banks.

On his part renowned economist David Ndii, was categorical that CBK is propping up the shilling by intimidating banks.

He termed CBK actions as regulatory over-reach.

Did the CBK have the legal authority to take the administrative action against ABSA Bank Kenya?

Yada, yada, yada.