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Kenya Bankers Association (Kba) Statement On Rumours Circulating About Some Of Its Member Banks

Monday, November 21, 2016, In light of the rumours circulating through the social media about the stability and liquidity of various Kenya Bankers Association (KBA) member banks, KBA advises the banking public not to engage on rumours or speculation which are unfounded. A probe by the Central Bank of Kenya's (CBK) Banking Fraud Investigation Unit (BFIU) is underway to determine the source of these speculations and to hold accountable those that are responsible for propagating such damaging claims.

t is prudent to emphasize that the Kenyan banking sector continues to remain stable and robust. Maintaining public trust remains paramount in ensuring stability is sustained. It is with this regard, that we urge the general public to refrain from perpetuating baseless claims about banking institutions. As KBA, we recognize that the banking industry plays a significant role in Kenya's economic growth and remain fully committed to support CBK's supervisory and regulatory role to safeguard this vital sector. To do this, we have spearheaded the Sustainable Finance Initiative (SFI) that will enable banks to strengthen their risk management practices and governance framework. In conclusion, we urge KBA member banks to engage their customers and other key stakeholders in dispelling any concerns that are being spread through the social media.

Ms. Roselyn Njino,

Senior Communications Officer,

Kenya Bankers Association,

Phone: +254-20-2221704/2224014,

Email: rnjino@kba.co.ke

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