Kenya Electronic Payments and Settlement System
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Kenyan Commercial Banks to Monitor Large Transactions Under New Regulations
Tech In Africa - Aug 10, 2024
Kenyan commercial banks are set to begin monitoring substantial cash deposits and transfers exceeding KES 1 million. The use of 'purpose of payment' (PoP) transaction codes is mandated, which could accelerate the adoption of ISO 20022 standards.
Central Bank of KenyaISO 20022Kenya Electronic Payments and Settlement SystemKenyan commercial banksNCBA
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