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Scandal-Ridden: Sex For Promotion Accusations Hit I&M Bank


Unhappy staff at I&M Bank have written to their bosses expressing their disappointment in the manner in which the bank is handling issues. 

The area of contention touches on recent promotions within the bank. 


This is to bring to your attention number that many staff aren’t happy with recent developments in promotions. 

The CEO was duped in sharing a biased promotions list, why so? does it mean the bank can be where it is without all head office functions considered / branch operations staff? 

Why promote say 5 or in one head office department and yet without branches / other depts these people can’t be there as well? 

Iguess not. 

Did Bhartesh have a hand in this? He found a well-run bank and he is ready to spoil it, why? 

What is flip? the bank is becoming like Kenyan politicians who earn salary and still earn allowances for what they are employed to do.  

Pay bonus to everyone please. 

He took home a huge amount not deserved while other staff are suffering – over 7 million at one go..BOB COLLYMORE took a pay cut to accommodate his people

Also consider staff welfare.

Mr Kihara Maina, CEO I&M Bank

Sex for promotion scandal

Promotions / positions are exchanged mainly for sex to ladies. Someone has to open legs for men to get a position. Mark you here, the sexual harassment policy is only on paper and doesn’t / can’t work. Men will always suffer as they can’t be gays.

Why employ only Kisiis…NYAMAIKO can’t deny this. Look at the appointments done in the last few years, Kisii wins. Some are his kin or friends / friends of friends.

The many senior staff appointments are robbing the bank at the top; are you aware of this?

Seems appraisals are just a mere formality but favors are made for who is known or ready to keep legs apart for men, right from HR department.

Please look in to these and many others, otherwise, fraud / indiscipline by staff will be the order of the day like where Bhartesh came from.

Scandal after scandals.

In 2019, the Bank of Tanzania (BoT) Financial Intelligence Unit slapped a Sh29.58 fine after the bank was caught money laundering.

I&M’s was the biggest fine of the five banks that were fined.

“The BoT has imposed monetary penalties to five banks for breach of regulations 17, 22 and 28 of the Anti-Money Laundering Regulations, 2012 for failure to conduct proper customer due diligence and file suspicious transaction reports to Financial Intelligence Unit (FIU),” the regulator said without giving details of the specific breaches.

BoT had also ordered that staff must also be punished for failure to adhere to Know Your Customer (KYC) rules while opening the offending accounts.

In 2021, media sources say I&M was also caught in a Sh400 million fraudulent land transaction involving GA Insurance.

The land, whose ownership is the subject of a court case, was used as security for a Sh1 million loan I&M issued to GA Insurance in 2014.

The illegal land transaction also involved a Dikus Transporters and a lawyer Stephen Juma Ndeda. The two are accused of using a fraudulent title deed to lay claim to the land that the underwriter says it bought for Sh92 million in 2014.

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