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Bad News to Kenyans as Banks and Safaricom Defy Court in Cash Transfer Fees

Judiciary is an independent body that interprets the laws made by the legislature. In Kenya, the Courts of law play important roles in the interpretation of the policies.

Last week, the court of law temporarily suspended the banks and mobile money operators not to charge transaction fees for their customers until a case in the court challenging the decision is heard and determined.

The Central Bank of Kenya (CBK) announced the introduction of transaction charges for the banks and mobile money operators after the transaction cost used to be free.

According to the reliable source, Business Daily newspaper dated 16th January 2023, it has been reported that the banks and Safaricom have defied court order on the cash transfer fees as they are continuing to levy charges between their platforms.

In conclusion, these are bad news to the Kenyans using the banks and Safaricom for transactions as the cash transfer fees are charged despite the court order.

Content created and supplied by: Felixotoro (via Opera News )

Business Daily CBK Kenya Kenyans Safaricom


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