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Published On: Sat, Sep 10th, 2016

Money transfer firm Dahabshiil not deregistered, says Central Bank of Kenya

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The Central Bank of Kenya (CBK)  has dismissed reports circulating in social media that money transfer firm Dahabshiil has been deregistered by the Kenya government.

CBK clarified in its twitter handle that the Kenya Gazette notice published Friday referred to deregistration of Dahabshiil Bank International Kenya Ltd and not Dahabshiil Money Transfer Ltd.

“Dahabshiil Bank International Kenya Ltd is a different entity that applied for a banking license but withdrew application,” indicted the regulator of financial institutions in the country.

The announcement of the alleged deregistration of the money remittance firm had been published in the social media accounts of a local media house. It read: “The Somali International money transfer company “Dahabshiil Bank International Kenya Ltd” deregistered.”

The announcement had generated jitters locally and internationally among regular clients of the money remittance firm as well as the general public.

Speculation was also building up in social media with some people linking the alleged deregistration as a “retaliation” by Kenya to the Somali government move to ban miraa imports from Kenya worth millions of shillings every day. Dahabshiil is one of the main remittance firms operating in Kenya and other parts of the world.

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