ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
14. Provision of services outside Kenya without permission
Edition: 2025-07-09 · In force
14. Provision of services outside Kenya without permission
(1)An institution which provides services to customers who are outside Kenya, through banking institutions located outside Kenya, without the permission of the Central Bank issued under section 8A(5) of the Act, commits a violation and is liable, upon assessment, to a penalty not exceeding twenty 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.