There is "too much English" in the article below.
Would someone be so kind and translate it for us ABSA "retail" shareholders?
Thank you.
Quote: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.
Source Link:
https://www.the-star.co....a-regulatory-over-reach/