CBK Clarifies Stance on Cash Gifts, Warns Against Note Damage

The Central Bank of Kenya (CBK) clarified its position regarding cash gifts, stating it does not oppose their use.

The CBK, however, noted that practices resulting in damaged currency notes are an offense. Individuals found damaging notes could face imprisonment for up to seven years.

The Central Bank of Kenya (CBK) clarified its position regarding cash gifts, stating it does not oppose their use. However, practices resulting in damaged currency notes are an offense, with individuals found damaging notes facing imprisonment for up to seven years.