Bank Al Habib Limited (BAHL) will close its representative office in Nairobi on May 15, 2025, calling it quits from Kenya after seven years.
The Central Bank of Kenya approved the closure on April 30, 2025, under its Banking Act (Cap. 488) and applicable prudential guidelines.
BAHL confirmed the decision followed a strategic review by its board. The Nairobi office was limited to liaison and marketing functions and did not conduct banking operations.
The exit is part of BAHL’s global restructuring plan to consolidate international operations and improve efficiency. The bank continues to operate in Bahrain, China, Türkiye, the UAE, and the Seychelles.
BAHL has not specified reasons for the exit beyond restructuring. A stock filing at the main bourse by the bank is still pending in this regard.
Maybe recent crackdown on illegal money transfers/ money laundering could be the reason behind it
Asallamulaikom