ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
32. Non-compliance with direction to suspend or terminate an officer
Edition: 2025-07-09 · In force
32. Non-compliance with direction to suspend or terminate an officer
(1)An institution which does not comply with a direction of the Central Bank made under section 11(3)(b) of the Act to—(a)suspend an officer or employee of the institution from holding office; or(b)terminate the appointment of the director to whom an advance, loan or credit facility was issued from the board of directors of the institution,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.(3)An officer—(a)of an institution found liable for the violation in paragraph (1); and(b)found liable for the violation in paragraph (2),commits a violation and is liable, upon assessment, to a penalty not exceeding one hundred thousand shillings for each day, or part of each day, that the institution continues to commit the violation in paragraph (1).