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ABSA - regional bank
Rank: Elder Joined: 8/16/2011 Posts: 2,389
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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.
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Rank: Elder Joined: 12/4/2009 Posts: 10,819 Location: NAIROBI
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Realtreaty wrote: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.
Check who occupies the first position of the shareholding of ABSA Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,937
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Ericsson wrote:Realtreaty wrote: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.
Check who occupies the first position of the shareholding of ABSA Barclays  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 10/18/2008 Posts: 3,434 Location: Kerugoya
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Haiya! Now What? Quote: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) Source: https://www.reuters.com/...ule-lapses-idUSL5N2BX14Z
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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aemathenge wrote:Haiya! Now What?
[quote]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) Source: https://www.reuters.com/...le-lapses-idUSL5N2BX14Z[/quote] How much was this forex transaction in question? African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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Rank: Veteran Joined: 4/23/2014 Posts: 932
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Absa Kenya Suspended as a Foreign Exchange Dealer for Flouting Rules“You can get in way more trouble with a good idea than a bad idea, because you forget that the good idea has limits.” - Ben Graham
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Rank: Member Joined: 2/20/2015 Posts: 468 Location: Nairobi
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Sober wrote:aemathenge wrote:Haiya! Now What?
[quote]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) Source: https://www.reuters.com/...le-lapses-idUSL5N2BX14Z[/quote] How much was this forex transaction in question? 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.
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Rank: Elder Joined: 12/4/2009 Posts: 10,819 Location: NAIROBI
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kawi254 wrote:Sober wrote:aemathenge wrote:Haiya! Now What?
[quote]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) Source: https://www.reuters.com/...le-lapses-idUSL5N2BX14Z[/quote] How much was this forex transaction in question? 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. PR by Opus Dei Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,937
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Ericsson wrote:kawi254 wrote:Sober wrote:aemathenge wrote:Haiya! Now What?
[quote]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) Source: https://www.reuters.com/...le-lapses-idUSL5N2BX14Z[/quote] How much was this forex transaction in question? 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. PR by Opus Dei At least an indicator to the rest of the world!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Chief Joined: 1/3/2007 Posts: 18,371 Location: Nairobi
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“This is, however, not possible at the moment since the appellant (Keroche) is already heavily indebted on account of overdraft facilities and numerous bank loans from Absa Bank Kenya Plc, which it is required to service through monthly instalments of Sh57,000,000,” she said. https://www.businessdail...6530-10nyikrz/index.htmlGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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