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3 Rogue Banks!
muganda
#1 Posted : Wednesday, February 01, 2012 6:41:30 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
I'm looking everywhere on Wazua and can't find a thread on the identity of the rogue banks that whipped the KShs to its knees.

Earlier reports said that managers from Barclays, Cooperative, KCB, Equity, and Housing Finance. Couldn't help noting Mr. James Mwangi strongly on the defensive.

MPs report on the saga is due out next week. What's your take of which banks make the final list?


josiah33
#2 Posted : Wednesday, February 01, 2012 7:03:07 PM
Rank: Elder

Joined: 1/27/2011
Posts: 1,777
I don't know but CFC-STANBIC seems to have been suspended from inter bank forex trade when the shilling was doing it's yo-yoing.
Cde Monomotapa
#3 Posted : Wednesday, February 01, 2012 7:09:46 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
To what end now? Eih..we need to move on bana coz personally i'm not getting a share of the PSC sitting allowances.
obiero
#4 Posted : Wednesday, February 01, 2012 7:56:30 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,322
Location: nairobi
coop, family and equity. my basis is that the ceo's of the said firms wr the only ones called in by the committe
COOP, IMH, KEGN, KQ, MTNU
hisah
#5 Posted : Wednesday, February 01, 2012 10:04:33 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
obiero wrote:
coop, family and equity. my basis is that the ceo's of the said firms wr the only ones called in by the committe

Wow! No foreigners? Hard to believe this...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
StatMeister
#6 Posted : Wednesday, February 01, 2012 10:24:23 PM
Rank: Veteran

Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
hisah wrote:
obiero wrote:
coop, family and equity. my basis is that the ceo's of the said firms wr the only ones called in by the committe

Wow! No foreigners? Hard to believe this...


has to be foreign banks since CBK at some point banned trading forex with overseas banks
A bad day fishing is better than a good day at work
luxel
#7 Posted : Thursday, February 02, 2012 8:54:52 AM
Rank: Member

Joined: 7/17/2008
Posts: 152
The three banks were citi, cfcstanbic and barclays. After CBK audit, its only cfcstanbic which was found guilty and suspended temporarily.

Other bank were also looked at but were not shortlisted for audit. Some of them were co-op bank and equity,but it was discovered that by coincidence most societies had received their dollar payments for coffee sold earlier in the year and hence that was not unusual.

It is worth noting that what the PSC is doing now is useless, just politics. A thorough and serious investigation was done by CBK last year and they closed the matter.
hisah
#8 Posted : Thursday, February 02, 2012 9:18:03 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
PSC 'investigations' are just a comedy central time wasting show. Gubberment must look like it's doing something since the hens (wananchi) are mad...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
sinloz
#9 Posted : Thursday, February 02, 2012 2:27:52 PM
Rank: Hello

Joined: 8/15/2011
Posts: 4
hisah wrote:
PSC 'investigations' are just a comedy central time wasting show. Gubberment must look like it's doing something since the hens (wananchi) are mad...


I totally agree…….PSC z just looking for a scapegoat.
I would suggest they spend the resource figuring how to deal with da challenging yr ahead, account of;
.Economic meltdown; inflation 20% >>>>>>>>>
Volatile Exchange Rates
.Global Economic Environment Crisis; European sovereign debt crisis
Global warming effects
.Trailing effects of financial crisis

"All that we see or seem is just but a dream within a dream"
Cde Monomotapa
#10 Posted : Thursday, February 02, 2012 4:07:04 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
hisah wrote:
PSC 'investigations' are just a comedy central time wasting show. Gubberment must look like it's doing something since the hens (wananchi) are mad...

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