Absa responds to Kenya suspending their foreign exchange licence
JOHANNESBURG – The Central Bank of Kenya (CBK) has on Thursday suspended Absa Bank Kenya’s foreign exchange licence for failing to report specific foreign exchange trades it conducted in March.
In a statement posted on the CBK Twitter account, CBK governor Patrick Njoroge said Absa is required to cease transactions as an authorised foreign exchange dealer in the Kenyan market for seven days.
Absa responded and said that they have noted the Central Bank of Kenya’s press statement this morning in which it announced the suspension of Absa Bank Kenya’s foreign exchange dealer license from 9 April 2020 until 15 April 2020. Absa Bank Kenya has also received official notice of same.
Source: iol.co.za