Business Daily | by Sam Kiplagat
The High Court has declined to declare as unconstitutional sections of Central Bank of Kenya regulations that require banks to demand customers’ source of funds before crediting their accounts.
Justice Wilfrida Okwany dismissed the petition by businessman Paul Kobia, saying he failed to show how the regulations were an infringement of his rights.
The prudential guidelines require any account holder to declare the source of the money being credited to the account and any withdrawals of more than Sh1 million…
