ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
11. Closure place of business in Kenya without notification
Edition: 2025-07-09 · In force
11. Closure place of business in Kenya without notification
(1)An institution which closes a place of business in Kenya without issuing a notice under section 8(3) of the Act, commits a violation and is liable, upon assessment, to a penalty not exceeding five million shillings or three times the gross amount of the monetary gain made or loss avoided by the institution.(2)An officer of an institution found liable for the violation in paragraph (1) commits a violation and is liable, upon assessment, to a penalty not exceeding one million shillings.