Statehouse, Bankers Association Add Voices on Negative Online Comments Regarding Banks

Kenya’s Statehouse and the Kenya Bankers Association have added their voices on the growing concerns over the increased negative online sentiments concerning Kenyan Commercial Banks.

Through his official personal twitter handle, Statehouse Spokesperson Manoah Esipisu said “We are all aware of careless & alarmist reports regarding the banking industry peddled mainly in social media in the last couple of days. You may have noted that one arrest has been made in this respect, with the possibility of more to come. Malicious unsubstantiated stories really amount to economic crimes & law enforcement officers are taking a very keen interest in the subject.”

He also said that the Central Bank of Kenya, whose mandate is to regulate banks in the country is in full control and that it must be allowed to do its work.

The @CBKKenya whose mandate it is to regulate banks, is in full control of the situation and must be allowed to do its work

— Amb. Manoah Esipisu EBS (@MEsipisu) November 20, 2016

On the same note, the Kenya Bankers Association has released a statement concerning the rumors flying around on the social media calling on the public to stop engaging in speculations which are unfounded.

“In light of the rumors circulating through the social media about the stability and liquidity of various Kenya Bankers Association (KBA) member banks, KBA advises the banking public not to engage on rumors or speculation which are unfounded.” Said part of the statement.

The Bankers Association also said that a probe by the Central Bank of Kenya’s (CBK) Banking Fraud Investigation Unit (BFIU) is underway to determine the source of the speculations and to “hold accountable those that are responsible for propagating such damaging claims.”  

“It is prudent to emphasize that the Kenyan banking sector continues to remain stable and robust. Maintaining public trust remains paramount in ensuring stability is sustained. It is with this regard, that we urge the general public to refrain from perpetuating baseless claims about banking institutions,” read the statement.

The association, while acknowledging the role the banking sector plays in the economy of Kenya, said that it is fully committed to support the Central Bank of Kenya in its role as a supervisory as well as a regulatory body in safeguarding the vital banking sector.

“To do this, we have spearheaded the Sustainable Finance Initiative (SFI) that will enable banks to strengthen their risk management practices and governance framework.”

The statements come even a few days after a woman named Christine Njeri was arrested and detained for spreading malicious and damaging remarks concerning Family Bank causing panic among customers of the lender.

Related: Freedom Of Expression Comes With Burden We Must All Respect, As Christine Njeri Found Out with Family Bank