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Uhuru Kenyatta Kenya's president says banks will lose licenses for money laundering

"From today, we have agreed that those banks that break our anti-money laundering laws and regulations will at a minimum lose their banking license," he said.

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Kenya's President Uhuru Kenyatta addresses the country during the Mashujaa Day (Hero's Day) celebrations at the Nyayo National Stadium in Nairobi, October 20, 2014. REUTERS/Thomas Mukoya play Kenya's President Uhuru Kenyatta addresses the country during the Mashujaa Day (Hero's Day) celebrations at the Nyayo National Stadium in Nairobi, October 20, 2014. REUTERS/Thomas Mukoya (Reuters)

Banks that break Kenya's anti-money laundering rules will lose their licenses, President Uhuru Kenyatta said on Monday in his annual address to the nation.

"From today, we have agreed that those banks that break our anti-money laundering laws and regulations will at a minimum lose their banking license," he said.

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