Kenyans Holding Dollars Face Tougher Rules Under New CBK Proposal
According to the proposal, a person found guilty of hoarding dollars or other foreign currencies could face a fine of up to Ksh1 million or up to 10 years in prison...
✨ Key Highlights
A new bill proposed in Kenya seeks to impose stricter regulations on foreign currency, including hefty penalties for hoarding. The proposed amendments to the Central Bank of Kenya (CBK) Act aim to curb speculative hoarding that can destabilize the exchange market.
- A potential fine of up to Ksh1 million or up to 10 years in prison for offenders.
- The bill is sponsored by Rongai MP Paul Abuor.
- The National Assembly’s Finance Committee is currently reviewing the CBK(Amendment) Bill, 2026, before it goes to the full House.
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