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Central Bank of Kenya |
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Central Bank of Kenya
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The Central
Bank of Kenya is Kenya's central bank. The bank is located in Nairobi. The
Central Bank of Kenya was established in 1966 through an Act of Parliament,
the Central Bank of Kenya Act of 1966. Under the Central Bank of Kenya Act,
the Monetary Policy Committee of the Bank is responsible for formulating
monetary policy. |
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Section 4 of
the Central Bank of Kenya Act states the core mandate of the Bank as
follows:
(1) the principal object of the Bank shall be to formulate and implement
monetary policy directed to achieving and maintaining stability in the
general level of prices;
(2) the Bank shall foster the liquidity, solvency and proper functioning of
a stable market- based financial system; and
(3) subject to (1) and (2), the Bank shall support the economic policy of
the Government, including its objectives for growth and employment. |
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The other objectives of the Bank are enumerated under Section 4A of the Act,
and empower the Bank to :-
• Formulate and implement foreign exchange policy
• Hold and manage its foreign exchange reserves;
• License and supervise authorized dealers;
• Formulate and implement such policies as best promote the establishment
regulation and supervision of efficient and effective payment, clearing and
settlement systems;
• Act as banker and adviser to, and as fiscal agent of the Government; and
• Issue currency notes and coins.
Under the Central Bank of Kenya
Act, the responsibility for determining the policy of the Bank, other than
the formulation of monetary policy, is given to the Board of Directors.
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Central Bank of Kenya |
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HQ
Address: |
Haile
Selassie Avenue
Nairobi
Kenya |
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Tel: |
+254 20 286 1000 |
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Fax: |
+254 20
340 192 |
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Website: |
www.centralbank.go.ke |
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Swift Code: |
CBKEKENX |
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Currency: |
Kenyan
Shilling |
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Banking Hours: |
Monday - Friday : 8:45am - 2.00pm
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The Central Bank is entrusted with the task of
organizing banks in upgrading their management and to ensure their financial
soundness. Circulars and regulations are being issued from time to time by
the Central Bank to achieve this objective. The Central Bank is also
continuously studying various ways and means to make the Kenya a noted
regional financial center.
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