Court orders audit of Sh2bn Kencom Sacco, NBK loan row

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Justice Freda Mugambi said the bank had the duty to provide accurate and up-to-date statements on loan repayment engagements with its clients.

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The High Court has ordered a full reconciliation of accounts in a Sh1.95 billion loan repayment row between National Bank of Kenya (NBK) and Kencom Sacco, which claimed that the lender had breached terms and introduced illegal terms of the Sharia-compliant debt.

Justice Freda Mugambi said the bank had the duty to provide accurate and up-to-date statements on loan repayment engagements with its clients.

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