Its been exactly four years since the closure of the charter house bank to pave way for investigations on various allegations including money laundering,tax evasion and large exposure breaches.In the four years we recently saw the bank come back in the lime light in this instance more good news than before.
According to muthoni kimani senior deputy solicitor general she claims there is no reason for the bank to remain closed on any legal basis.Kenya revenue authority has cleared the bank since there were no malpractices noticed this is the same case with kenya anticoruption commision.
My foremost concern is the customers who have not had access to their accounts for the four years,surely this is not fair to these account holders given that a four year investigation has found nothing on the charter house bank.No one seems to care about how the customers are being affected by the closure.
Mind you there other institutions that have actually been found guilty of the above mentioned allegations and they are still in operation.As far as am concerned the bank should reopen if no evidence has been found against it.
I agree naila i think this bank should just resume operations but the management should change any bad apples should be dealt with.If i were one the customer i would want to know the fate of my assets,have they been gaining interest over the 4 years of closure?
ReplyDeleteThe bank should be closed completely, and all the people involved should be punished by the law.
ReplyDeletewell said mourine its only appropriate for the customers to have what is theres thus reopen it soon until dirt is found on the bank we cannot point fingers.
ReplyDeleteFlavy exactly let the people involved be punished by the law now that there is a law on money laundering and on tax evasions take nakumatt which has actually been found guilty of tax evasion are on the lose and even expanding more,what do they have on charter house again?the answer is nothing so why not let the bank reopen under new management?
I think that the bank should remain closed considering that the management and shareholders of the bank are prominent people and therefore would do anything in their power to hinder the truth from coming out.
ReplyDeleteBehind every story there is a story but funny how the third party view is considered always right.The charter house bank has been in the lime light over three main issues that is money laundering,tax evasions and exposure breaches.The bank faced closure for years ago and recently there is word going around that it will resume operation soon ,this has sparked off different reactions from the society, government and finally diplomats.Focusing on the positive the ideal point to start with is actually why closure?It was relevant for the government to act first to avoid the media outburst that would be drawn from the charter house saga when it was first brought to the public eye.This was a great move according to my view ,it eliminated panic for Kenyans as a whole since most people have lost money in banking scandals,it also tarnishes the reputation of a country in this case Kenya this was done for the best interest of Kenyans who would lose the confidence of their investors and as an end result would actually cause economic instability finally it did safeguard the interest of the customer base charter house bank had.
ReplyDeleteIts important for the bank to reopen this is because after four years of closure no verdict has been made in regards to the bank closure,take the tax evation claim accordong to kenya revenue authority the bank has been given a clean bill of healthy tax submissions what it really sought to look at were the bank customers .KRA clearing the bank means alot since they confirmed the fact that they didnot evade taxes unless one of the customers did of which they been investiagating over a hundred accounts and none so far has been found.
Charter house bank reopening would be great since everyone including business that fail has a chance to improve.what should be carried foward is that the bad apples thet led to mismanagement of the bank should be dealt with independently thus letting the bank resume operations.This is clearly illustrated for example by Uchumi whereby it recovered and reopened most of the closed branches , while all those who where involved in dirty business where brought to justice.
Muthoni Kimani recently when routing for the bank to be reopened saying reasons for closure nolonger make sense this is probably so given that central bank had renewed the banking licence of the bank even if it knew it was involved in money laundering thus giving it a clean reputation.
Also it is relevant to look at the foreign pressure to have the bank closed and actually why they are really involved in this saga.There has been threats to drop relationships with Kenya but the question is for how long will we be influenced by foriegners who put conditions on us.The whistle blowers sought refuge in America , what makes them so righteous that they are never given the benefit of doubt.They should air their views and back off to let kenya operate how it knows best and for the good o f the country and our economy.
The other reason is that the central bank,Kenya anti corruption ,the Attorney General and the Kenya revenue authority not forgetting the ministry of finance are distancing themselves from the decision to close the bank this is mainly because no key evidence has been found against the bank which was performing so well.With all this in mind Charter House bank deserves to reopen under new management and on a close watch by the proper institutions.