Banks face contempt in cash transfer standoff

 Central Bank of Kenya

The Central Bank of Kenya in Nairobi. FILE PHOTO | NMG
 

Commercial banks were on Monday still waiting for a formal communication from the Central Bank of Kenya (CBK) to suspend charging customers for money transfer services to mobile money wallets in line with last week's court order.

A number of lenders, who are now facing a risk of being found in contempt of court, told customers that they will continue with the charges in the absence of CBK clarification on the matter.

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