Family Bank assures customers of its stability

Family Bank has rushed to assure customers of its stability, following claims on social media that it was going under.

In a press statement published in all mainstream papers, the bank’s Chairperson Wilfred Kiboro has   urged customers to ignore recent negative statements and malicious rumours trying to depict the bank negatively.

“We wish to reassure our 1.7 million customers that we are open for business and you can count on us to continue serving you. Be sure that we will ensure that we live up to your expectations,” said Kiboro.

The media reports have centered on the on-going investigations of the NYS scandal, of which Kiboro says have ‘no bearing on the financial stability of the bank whatsoever,’ adding the bank has and will continue to cooperate with investigative authorities.

According to Kiboro, the bank is working with authorities to track down the source of the malicious statements with leads narrowing to the source of the reports.

The Financial Report Centre (FRC) at the beginning of this month reckoned that 15 of the country’s 41 banks raised 42 alerts over suspicious transactions relating to the NYS funds that were stolen through fictitious tenders.

Family Bank’s perhaps fears the wrath of social media that saw Chase bank put under receivership early this year.

“We can confirm that we have consistently met the statutory liquidity requirements as directed by the banking regulatory authority, the Central Bank of Kenya,” the bank statement read in part.

The central bank has called for the prosecution of former managers that were involved in approving the transfer of funds on grounds of money laundering.

In a letter to the Director of Public Prosecution, CBK governor Dr Patrick Njoroge said prosecution of those involved in money laundering would strengthen the banking sector.

Prime Bank has also been mentioned adversely in the National Youth Service (NYS) fraud.


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