Bank AL Habib closes down operations in Kenya
Bank AL Habib closes down operations in Kenya
Bank Al-Habib Limited of Pakistan (BAHL) has announced it will close down its representative office in Kenya from May 15, 2025.
In a statement on Monday, May 5, the bank said its exit from Kenya follows approval from the Central Bank of Kenya (CBK).
“BANK AL HABIB LIMITED (“BAHL”) hereby notifies its customers, the general public, stakeholders, and all interested parties that BAHL shall close down its Representative Office in Kenya with effect from May 15, 2025.
“This follows approval from the Central Bank of Kenya (CBK) on April 30, 2025, in line with the Banking Act (Cap. 488, Laws of Kenya) and Prudential Guidelines issued thereunder,” read part of the notice.
BAHL which has its headquartered in Pakistan, was granted authority by CBK in April 2018 to establish a representative office in Kenya.
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The bank noted that its closure is due to a strategic review conducted by its board of directors and is part of a global restructuring initiative.
“Closure of the Representative Office follows a strategic review undertaken by the Board of Directors of BAHL and is part of a broader global restructuring initiative aimed at consolidating international operations and improving overall operational efficiency,” the bank stated.
Further, the bank urged members who have any inquiries regarding the closure to contact Oraro & Company Advocates via telephone at (+254) 709 250 000 or by e-mail at legal@oraro.co.ke.
“We take this opportunity to sincerely thank all our customers, stakeholders, partners, and the Kenyan public for their continued support during our presence in Kenya,” BAHL added.
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