Kenya: Banks 'Short-Changed' By MPs Report On Shilling

Nairobi — Commercial banks have poked holes into a report by Members of Parliament investigating the rapid decline of the shilling last year, claiming that it was full of erroneous conclusions.

Under the umbrella body of the Kenya Bankers Association (KBA), the financial institutions disputed claims that they borrowed Sh600 billion from the Overnight Discount Window- which is a facility of last resort - last year, contributing to the near collapse of the local currency.

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