(Nairobi) – The Central Bank of Kenya (CBK) has assured the public that Kenya’s banking sector is stable, dismissing recent claims on social media that suggested potential instability.
The CBK issued this statement on Wednesday in response to online rumors implying that some banks were restricting account withdrawals and might soon impose limits due to low cash reserves. According to the regulator, these statements are false, and the banking sector remains well-capitalized, stable, and resilient.
Concerns had been circulating on social media in recent days, alleging that certain banks were freezing all withdrawals through mobile and internet banking. Some users claimed that banks were facing a cash crisis that might force them to impose withdrawal limits to protect operating capital. One rumor suggested that banks might begin limiting withdrawals or that customers could lose 20–30 percent of their deposits.
The CBK clarified that no such measures have been implemented, and that these rumors are without basis. The bank emphasized that all customers should continue their normal banking activities and ignore the misinformation circulating online.
In its statement, CBK stressed that no press release or policy statement had been issued about any adjustments to the operation of the banking sector. The regulator urged the public to rely solely on CBK’s official channels for any updates or changes, such as the CBK website and its social media platforms, including its account on X (formerly Twitter), @cbkkenya.
CBK warned that these rumors are not only harmful but also intended to incite public panic, which could destabilize the banking system. It also reminded the public that spreading such misinformation is illegal under Kenyan law, specifically citing the Computer Misuse and Cybercrimes Act, which holds individuals accountable for circulating false information and may result in criminal charges.
The CBK assured the public that any updates or information regarding banking sector policy or operations will be made available through its verified channels, encouraging Kenyans to verify any banking news only through official CBK statements.