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The Central Bank of Kenya (CBK) (Swahili: Banki Kuu ya Kenya) is the monetary authority of Kenya. Its head office is located in Nairobi. CBK was founded by in 1966 after the dissolution of East African Currency Board (EACB). Dr. Kamau Thugge, CBS is the current Governor and Dr. Susan Koech is the Deputy Governor.
"The amended Central Bank Act, 2021, gives the Central Bank of Kenya powers to license digital lenders in the country as well as ensure the existence of fair and non-discriminatory practices in ...
The Capital Markets Authority of Kenya (CMA) is a government financial regulatory entity responsible for supervising, licensing and monitoring the activities of the capital markets within the Republic of Kenya, market intermediaries, including the stock exchange, and the central depository and settlement system and all other persons licensed under the Capital Markets Act of Kenya.
Kenya Deposit Insurance Corporation is a statutory institution established under the Kenya Deposit Insurance Act, 2012 (KDI Act, 2012). The Corporation is mandated to provide a deposit insurance scheme for customers of member institutions, to provide incentives for sound risk management and generally promote the stability of the financial system and prompt resolution.
The Kenyan Micro Finance Act was adopted in 2006 and became active in 2008. With the adoption of this act, institutions could apply for micro finance licenses at the Kenyan Central Bank either as a national or community institution. [4] In order to do so, these institutions must be registered as: deposit-taking institutions
On 31 May 2019, the Central Bank of Kenya issued a new family of banknotes without the portraits of known Kenyan individuals, as mandated by the Constitution of Kenya of 2010. At the same time, the Central Bank of Kenya has withdrawn all previous versions of the 1,000/= banknote. These remained legal tender until 1 October 2019.
The banking sector in Kenya is regulated by The Central Bank Of Kenya. Kenya's banking sector is mainly dominated by local commercial banks, namely Equity Bank, Kenya Commercial Bank, NCBA Bank, Diamond Trust Bank, Cooperative Bank, and National Bank. The Kenya Commercial Bank is the largest bank in Kenya by asset size and branch network as of ...
The literature on central bank independence has defined a cumulative and complementary number of aspects: [89] [90] Institutional independence: The independence of the central bank is enshrined in law and shields central banks from political interference. In general terms, institutional independence means that politicians should refrain from ...