CBK Breaks Silence Over Widespread Banking Collapse Rumors
The Central Bank of Kenya (CBK) has refuted claims that Kenya’s banking system is set to collapse, which could lead to a financial crisis.
According to CBK, the Banking system is solid and that everyone should continue banking with confidence, disregarding the rumors.
“The banking sector in Kenya remains stable and resilient and is adequately capitalized. All customers should continue transacting as normal,” reads part of the statement by CBK.
The response comes after widespread rumors emerged online claiming that the local banking systems would collapse after President-elect Donald Trump’s ascent to power in January next year
“CBK has not issued any press release, or other information with regard to the operation of the banking sector or any other element of its mandate. We thus advise the public to disregard any such purported information,” the statement continued.
According to CBK, the rumors were aimed to induce panic, leading to action that may destabilize the market.
“We wish to emphasize that creating or circulating such information is in contravention of several laws including the Computer Misuse and Cybercrimes Act, and will lead to criminal prosecutions,” CBK emphasized.
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