ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
13. Establishment or closure of subsidiary outside Kenya without approval
Edition: 2025-07-09 · In force
13. Establishment or closure of subsidiary outside Kenya without approval
(1)An institution which establishes a subsidiary outside Kenya without the approval of the Central Bank, commits a violation and is liable, upon assessment, to a penalty not exceeding ten million shillings or three times the gross amount of the monetary gain made or loss avoided by the institution.(2)An institution which closes a subsidiary outside Kenya without issuing a notice under section 8A (4) 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.