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The Central Bank (CB) on Friday cautioned the public on using the word ‘finance’ in a manner that violates the provisions of the Finance Business Act.
In a communiqué the Central Bank stated that that no person, other than a finance company and an institution specified in Section 10(6) of the act, shall use the terms ‘finance’, ‘financing’ or ‘financial’.
It stated that the words cannot be used alone or in combination with another word or any of its derivatives or its transliterations or their equivalents in any language, as part of the name or description or business name of such person.
