StanChart prepares for extra NYS cash penalty

Standard Chartered ATM lobby in Nairobi. FILE PHOTO | NMG

Standard Chartered Bank (Kenya) is bracing itself for potential further financial penalties for its role in the handling of Sh1.6 billion that was siphoned from the National Youth Service (NYS).

Central Bank of Kenya (CBK) last year fined the lender Sh77.5 million for failing to flag and stop the cash movements.

PAYE Tax Calculator

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