The Banking (Penalties) Regulations, 2025
6. Non-payment of annual fees for licence
6. Non-payment of annual fees for licence
An institution which does not pay the annual fees for a licence issued under section 5 of the Act within ninety days after the end of each financial year 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.Source: Kenya Law