The National Intelligence Service has fingered the Diamond Trust Bank over links to money laundering and terrorism financing.
According to the highly guarded report, the bank has been accused of knowingly aiding terrorism and demanded an immediate investigation into the allegations and prosecution of senior officials including CEO Naseem Devji.
Diamond trust bank, Last year, was under the director of public prosecutions’ magnifying glass as one of the main banks in the country that fail to comply with the central bank of Kenya’s prudential guidelines on moving money.
A furious Noordin Haji described the money laundering bank as a notorious institution.
Diamond Trust Bank money laundering
Appearing before the parliamentary committee on justice and legal affairs, Director of Public Prosecutions Noordin Haji said the bank leads in aiding and abetting of terrorism and that his office will prosecute officers in financial institutions a do not adhere to the central bank of Kenya’s prudential guidelines.
Mr. Haji pointed out the case of Diamond Trust Bank, Eastleigh Branch where he said the bank manager failed to do due diligence when one of their customers was withdrawing over Ksh.50 million in a week.
He claimed the bank is notorious in aiding crimes, further stating that the bank failed to provide CCTV footage of withdrawals.
Then there was the bombshell by Noordin claiming that the bank has been trying to run around and lobbying in order to stop his office from prosecuting those linked to those crimes.
Diamond Trust Bank Naseem Devji arrested
The CEO of Diamond Trust Bank Naseem Devji was arrested on Friday 1st of February 2019 and was taken in to record a statement by the Anti Terrorism Police Unit (ATPU).
Ms. Devji didn’t not sleep in the cells on the night of 1st because immense pressure was exerted by the Aga Khan community in Kenya, beginning with a telephone call from the Aga Khan himself to Statehouse.
On the following day, there was an emergency board meeting called by Diamond Trust Bank to brainstorm on ways to respond to the matter.
It was decided that all editors be bribed to black out this information, and being that DTB is a major advertiser in the mainstream media, it was easy for them to subdue media editors with brown envelopes.
Secondly, it was decided that the company should not respond to Cyprian Nyakundi’s article but instead launch a smear campaign against bloggers, calling for their regulation, a move which has backfired severally.
On hand to offer his help in the matter was Nation Media Group Chairman Wilfred Kiboro who immediately instructed the Group Editor to launch a series of shows, meant to drum-beat this sterile agenda.
Aga Khan Forex used for money laundering
Money from Diamond Trust and other sources including the various Forex Bureaus owned by Aga Khan like Muthaiga Forex, ABC Forex, etc bombarded the law enforcement and prosecutor’s arm of the Government, that charges were amended and down-graded from terrorism to money laundering, something the NIS report questions.
It is extremely unfortunate how money is prioritized over the lives of Kenyans in this country.
Simply because Aga Khan has money and is a frequent visitor at Statehouse, the law will be put in the back-burner, just to safeguard his interests and overlook our interests as citizens.
Diamond Trust Bank FAQs
Who owns Diamond Trust Bank Kenya?
DTB, an affiliate of the Aga Khan Development Network (AKDN), has been active in East Africa for more than seventy years.
The bank’s growth in recent years can be attributed to its dedicated focus on the SME sector and its unwavering commitment to enhancing customer convenience through the expansion of its branch network.
What is the salary of DTB in Kenya?
Based on the available data from Glassdoor, here are some salary ranges per month for various job titles at Diamond Trust Bank in Nairobi, Kenya:
- Senior Manager: The salary range for this position is KES 500,000.
- Assistant Senior Manager: The salary for this role is KES 380,000.
- Manager, Financial Planning and Analysis: The salary for this position ranges from KES 275,000 to KES 295,833.
- Customer Experience: The reported salary for this role is KES 200,000.
- Assistant Manager: The salary for this position ranges from KES 190,000 to KES 204,167.
- Software Engineer: The reported salary for this role is KES 150,000.
- ICT Senior Officer: The reported salary for this position is KES 150,000.
- BDO (Business Development Officer): The reported salary for this role is KES 100,000.
- Customer Service Representative: The reported salary for this position ranges from KES 100,000 to KES 101,833.
- Senior Officer: The salary for this role ranges from KES 85,000 to KES 108,000.
- Head of Cash Services: The reported salary for this position ranges from KES 100,000 to KES 108,333.
- IT Analyst: The reported salary for this role is KES 90,000.
- Branch Officer: The reported salary for this position is KES 85,000.
- Social Media Coordinator: The reported salary for this role is KES 80,000.
- Credit Officer: The reported salary for this position is KES 80,000.
- Risk and Compliance Analyst: The salary for this role ranges from KES 65,000 to KES 75,000.
- Community Management: The reported salary for this position is KES 70,000.
- Analyst: The reported salary for this role is KES 70,000.
- Customer Service: The reported salary for this position is KES 70,000.
- Marketing Officer: The reported salary for this role is KES 70,000.
Please note that these salary ranges are based on the data available on Glassdoor, and actual salaries may vary depending on factors such as experience, qualifications, and negotiation skills.
How do I check my Diamond Trust bank balance?
Discover the convenience of DTB mobile banking, where you can effortlessly check your account balance, initiate PesaLink transfers, pay utility bills, and transfer funds from your account to mobile money wallets.
Experience these features and more by dialing *382# or downloading the DTB mobile app today. Simplify your banking with DTB’s mobile banking solutions.
How many branches does Diamond Trust Bank have?
DTB is dedicated to empowering individuals to progress with confidence and achieve success.
With a network of over one hundred and thirty branches across Kenya, Tanzania, Uganda, and Burundi, including several 24/7 digital branches, DTB is committed to providing accessible financial services to support your journey towards advancement.
Who is the CEO of Diamond Trust?
Nasim Devji – Group CEO & Managing Director – Diamond Trust as per LinkedIn Data
What is the slogan of DTB bank?
Excellence. This is the core of everything we do.
How much is the withdrawal charge for DTB?
Where is Diamond Trust Bank found?
DTBU is a proud member of the Diamond Trust Bank Group, a prominent financial services provider with a strong presence in multiple countries, including Burundi, Kenya, Rwanda, Tanzania, and Uganda.
As part of this esteemed group, DTBU contributes to the diverse range of financial solutions and services offered to customers across these regions.
Together, the Diamond Trust Bank Group works towards enhancing the banking experience and supporting the financial needs of individuals and businesses in these countries.
What rank is DTB Kenya?
In 2018, the Diamond Trust Bank Group held the 5th position among financial institutions.
The group operates in partnership with the Habib Bank of the Aga Khan Fund for Economic Development and the International Finance Corporation of the World Bank, fostering collaborative efforts towards economic development.
In July 2017, the Diamond Trust Bank Group successfully acquired full ownership of the former “Habib Bank Kenya,” further expanding its reach and capabilities in the financial sector.
Who owns Diamond Trust Bank Tanzania?
Diamond Trust Bank Tanzania Plc (DTBT) is a commercial bank operating in Tanzania.
It is licensed by the Bank of Tanzania and is part of the Diamond Trust Bank Group, a major financial services provider in East Africa.
DTBT has a strong presence in Tanzania, with total assets valued at TSh 1,405 billion (approximately US$610 million) and shareholders’ equity at TSh 209 billion (approximately US$99.74 million) as of December 2021.
The bank operates through a network of 29 branches, with 15 located in Dar es Salaam and the remaining 14 spread across other major commercial centers in the country.
DTBT has a rich history dating back to 1945 when it was established as Diamond Jubilee Investment Trust (DJIT), primarily serving the Ismaili Community.
Over the years, it transformed into a non-bank financial institution and eventually obtained a full commercial banking license in 1997.
The bank went through name changes and recapitalization, with Diamond Trust Bank Kenya and the Aga Khan Fund for Economic Development (AKFED) becoming its principal shareholders.
As a member of the Diamond Trust Bank Group, DTBT benefits from the collective strength and expertise of the group’s operations in Burundi, Kenya, Rwanda, Tanzania, and Uganda.
The Diamond Trust Bank Group holds the majority ownership, with a 65 percent stake in Diamond Trust Bank (Tanzania) Limited as of March 2016.
This ownership structure ensures stability and synergies within the group, enabling DTBT to provide comprehensive financial services and contribute to the economic development of Tanzania.
How much does DTB CEO earn?
DTB chief executive Nasim Devji takes home gross pay of Sh61.1 per year.
Is DTB an international bank?
Diamond Trust Bank (DTB) is a leading, Tier I East African commercial bank headquartered in Nairobi, Kenya and listed on the Nairobi Securities Exchange (NSE) since 1972.
How much does DTB pay interns?
The salary trajectory of an Intern can vary depending on factors such as the specific location and the employing organization.
In general, the salary for an Intern typically starts at KES 36,529 per year and can increase with more experience and seniority.
At the highest level of seniority, an Intern may earn up to KES 44,710 per year.
What does Diamond Trust Bank do?
DTB provides a diverse selection of cards tailored to meet your specific needs.
Whether you’re managing everyday expenses or indulging in luxury purchases, their range of cards is designed to enhance your transactional convenience.
With our cards, you can effortlessly transact and shop wherever you go.
Furthermore, they prioritize your security and peace of mind by equipping our cards with advanced security features.
This ensures that you can conduct your transactions with confidence, knowing that your financial information is protected.
