ADVOKS GLOBAL · KENYA
The Banking (Penalties) Regulations, 2025
75. Consideration in determining amount of penalty
Edition: 2025-07-09 · In force
75. Consideration in determining amount of penalty
Where the Central Bank determines that a person suspected of committing a violation is liable, the Central Bank shall consider the following in determining the amount to be imposed as a penalty—(a)whether the violation was committed by an institution, officer, shareholder, non-operating holding company, bank, financial institution, representative office, auditor, group, vehicle of ownership of a group, agency or any other person;(b)the nature of the violation;(c)the severity of the violation;(d)the impact of the violation on the person found liable for committing the violation and any other person;(e)the benefit that may have derived from the commission of the violation by the person found liable for conunitting the violation, or by any other person;(f)the financial loss, or other form of loss, suffered or likely to be suffered by the depositors, creditors or shareholders of the institution, any other person or the person found liable for committing the violation;(g)the circumstances under which the violation was committed;(h)the financial condition of the person found liable for committing the violation;(i)any previous penalty imposed for the commission of a similar violation;(j)any previous penalty imposed on the person found liable for committing the violation;(k)the effect of the violation on public interest;(l)where the Central Bank determines that the person liable for the commission of the violation is a natural person, the identity, rank and job description of the person found liable for committing the violation;(m)whether the impact of the violation was remedied by the person found liable for committing the violation;(n)whether the impact of the violation is capable of being remedied by the person found liable for committing the violation;(o)whether the amount of the penalty imposed is likely to render the person found liable for committing the violation unable to function properly; and(p)whether the amount of the penalty imposed is capable of deterring person found liable for committing the violation, from committing a similar violation; and(q)whether the amount of the penalty imposed is reasonably commensurate to the severity of the violation.