Coronavirus: CBK to quarantine hard currency

Wednesday, March 18th, 2020 11:46 | By
CBK Governor Patrick Njoroge

Central Bank of Kenya (CBK) Governor Patrick Njoroge on Wednesday said all hard currency coming from banks will be quarantined for a week to prevent spread of coronavirus.

"Charges on transfers from banks to mobile wallet have been eliminated. It means I can treat my wallet as a bank account and my bank account as my wallet,” Njoroge said during a press briefing at State House.

The CBK governor said that all personal loans that are current by March are eligible for extensions up to one year, but each assessment will be made on an individual basis.

“The cost of all these extensions will be borne by the banks,” announced Dr. Njoroge.

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