ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
36. Holding interest in land
Edition: 2025-07-09 · In force
36. Holding interest in land
(1)An institution which holds an interest in land for the purpose of conducting business, housing or providing amenities for the employees of the institution, that exceeds twenty percent of the core capital of the institution, 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 two hundred and fifty thousand shillings.(3)This regulation shall not apply where—(a)the institution leases part of a building to conduct business;(b)the institution holds land as security for a debt; or(c)the institution holds land for the development of the institution.