Nairobi, March 19 -- Commercial banks and officials face steep fines for facilitating terrorism financiers as Kenya fights to lift itself from a global 'grey list' after its safeguards against the flow of dirty cash were found wanting.

New regulations published by the Interior and Administration of National Government ministry say any person found guilty of unauthorised release of frozen funds or assets linked to terror suspects flagged by the United Nations would be jailed for up to 20 years.

Legal entities -either reporting institutions such as banks or law enforcement agencies -that will release such frozen assets without authorisation would be slapped with a fine of Sh20 million.

"No person within Kenya shall make available any fun...