Bank Al Habib to cease operations in Kenya after seven years
Pakistani financial institution Bank Al Habib Limited (BAHL) has announced its decision to close its representative office in Kenya, officially ending its seven-year presence in the country. The exit will take effect on May 15, 2025.
The decision follows a strategic
review by the bank’s Board of Directors and forms part of a broader global
restructuring plan aimed at consolidating international operations and
enhancing overall efficiency, the company said in a statement issued on Monday.
“Bank Al Habib Limited hereby
notifies its customers, the general public, stakeholders, and all interested
parties that it shall close down its Representative Office in Kenya with effect
from May 15, 2025,” the notice read.
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BAHL, headquartered in Pakistan,
received approval from the Central Bank of Kenya (CBK) in April 2018 to
establish its representative office. The bank has since operated in compliance
with all legal and regulatory requirements. The CBK approved the closure on
April 30, 2025, under the Banking Act and relevant prudential guidelines.
The bank assured stakeholders of a smooth
wind-down process and encouraged those with inquiries to contact its legal
representatives, Oraro & Company Advocates, via phone at (+254) 709 250 000
or email 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 said in
its closing statement.
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Bank Al Habib’s withdrawal reflects
a growing trend among financial institutions reassessing international
operations in response to evolving market dynamics and strategic priorities.
Source: https://eastleighvoice.co.ke/