Central Bank of Kenya governor attacks new banking law

Patrick Njoroge says the law could be “devastating” for the Kenyan economy

Patrick Njoroge
Patrick Njoroge

The Central Bank of Kenya (CBK) is involved in legal action seeking to overturn a law that it fears will undermine anti-money laundering (AML) efforts and could see the country blacklisted by international organisations.

Governor Patrick Njoroge told the Kenyan National Assembly on February 26 that the amendment to the banking law would be an act of “self-inflicted” harm. “You will see that, as never before, we are looking over the edge of an abyss,” he told lawmakers.

The amendment, which

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