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Browsing: Imperial Bank of Kenya
- Central Bank of Kenya has liquidated Imperial Bank of Kenya which was placed under receivership in October 2015
- The bank’s regulator said liquidation was the only feasible option, adding that it was acting in the interest of the general public
- Imperial Bank was placed under receivership, after CBK discovered massive fraud committed by its leadership through illegal deals, milking the bank at least KSh 34 billion
Kenya’s Central Bank has approved the complete shutting down of a bank that was placed under receivership five years ago.
On Thursday, December 6, Central Bank distributed a press release informing the general public that it was closing down Imperial Bank of Kenya Limited in Receivership (IBLIR) bank, seeing that it was the only feasible option.
The liquidation of Imperial Bank now sets the stage for the sale of its remaining assets.
After the bank went under, Central Bank placed it under the receivership …