ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
59. Non-disclosure of terms of loans
Edition: 2025-07-09 · In force
59. Non-disclosure of terms of loans
(1)A bank or financial institution which does not disclose to a borrower all the charges and terms of a loan before granting the loan to the borrower, commits a violation and is liable, upon assessment, to a penalty not exceeding two million shillings or three times the gross amount of the monetary gain made or loss avoided by the institution.(2)An officer of a bank or financial institution found liable for the violation in paragraph (1), commits a violation and is liable, upon assessment, to a penalty not exceeding one hundred thousand shillings.