Kenya: DP Ruto-Linked Harun Aydin is Not Our Customer, Says Equity Bank

Kenya: DP Ruto-Linked Harun Aydin is Not Our Customer, Says Equity Bank

Equity Bank says it has no customer by the name Harun Aydin.

The lender made the clarification through Equity Bank chief executive James Mwangi, who was represented in Parliament Wednesday by managing director Gerald Warui.

The NSE-listed firm also denies advancing a Sh15 billion loan to the Turkish national linked to Deputy President William Ruto.

Mr Warui also told MPs that Equity Bank has never received any phone calls from anyone to advance a loan to Mr Aydin.

This contradicts Dr Ruto’s claim that he helped facilitate a loan from the lender to the Turk to help set up a vaccine manufacturing plant in Uganda.

The National Assembly Committee on Finance and Planning had summoned Equity Bank to answer seven questions relating to allegations made by DP Ruto.

In a letter dated August 16 from the committee seen by Nation, Equity was expected to answer a series of questions including whether the bank, in handling Mr Aydin’s alleged transaction, complied with all legal and regulatory requirements as established under the law

"The purpose of this letter is to invite you to a meeting with the committee scheduled for August 25 in the mini-chamber," reads the letter dispatched to Mr Mwangi

The committee chaired by Homa Bay Woman representative Gladys Wanga also wants to know whether the bank carried out a thorough know-your-customer (KYC) check as required by the Central Bank of Kenya prudential guidelines before processing the said credit facility to the Turk.

Equity is also expected to tell MPs if the bank adhered to section 43 of the Proceeds of Crime and Anti-money Laundering Act, which mandate banks to undertake reasonable measures to satisfy itself on the true identity of Mr Aydin at the time he was seeking to enter into a business relationship with it.

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