Prime

Imperial directors risk CMA penalties over Sh2bn bond

Customers outside an Imperial Bank branch in Mombasa after it was shut down. PHOTO | KEVIN ODIT

Directors of the collapsed Imperial Bank Ltd (IBL) face huge penalties including being denied capital market licences if the regulator finds them guilty of misleading investors in the Sh2 billion bond issue last year.

The Capital Markets Authority (CMA) says it has instituted disciplinary action against the individual directors for misstating undisclosed facts ahead of selling the ill-fated bond to the public.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.

Get it First!

Stay up to date on the editors' picks of the week.

Latest

  1. Treasury

    PRIME Debt repayments gobble up 80pc of tax revenue

  2. PRIME How a simple UTI can turn deadly if left untreated

  3. PRIME State approves Sh45bn financing for struggling KQ

  4. PRIME PwC fails to secure buyer for Koko’s carbon credits

In the headlines

View All