Central Bank of Kenya
Three men arrested for fraud at Kenya’s central bank
Men charged with 11 counts of fraud attempted to present $6.25 million in counterfeit Treasury bills
Kenya not yet ready for more accommodative policy – Njoroge
Central Bank of Kenya leaves rates on hold despite well-anchored inflation and greater optimism; policymakers will continue to monitor interest rate cap impact
Central Bank of Kenya to challenge banknote tender nullification
Central bank to challenge ruling which revokes De La Rue’s tender win following claims of favouritism
Patrick Njoroge on reshaping banking and finance to work for the masses
The Central Bank of Kenya governor speaks to Christopher Jeffery and Rachael King about exchange rate intervention, food prices, banking reform and financial inclusion
People: Deputies appointed in Hong Kong and Oman
HKMA picks deputy chief executive and new director; Oman appoints vice-president; Central Bank of Kenya has new comms chief
Kenya’s digital transformation
The use of innovative digital financial services has transformed financial inclusion in Kenya, writes the chairman of the Central Bank of Kenya
Investors should not be concerned about revote – Kenya’s Njoroge
Central Bank of Kenya governor is confident whoever wins presidential revote will pursue market-based policies
Kenya’s central bank issues new cyber security guidelines
Banks will have to report breaches within 24 hours with senior management taking on a greater role
Debate over Kenya’s growth potential continues – Njoroge
Private sector sees macroeconomic stability and infrastructure funding aiding growth in the long term, while banks are concerned about elections and a decrease in credit growth
Income inequality should be a concern for central banks – IMF panel
IMF panel debates impact of unconventional monetary policy on income inequality, concluding institutions should be more aware of policy effects on income disparities despite no specific mandate
Kenya’s Imperial Bank given 90-day lifeline
High court extends commercial bank’s receivership to allow shareholders and receiver to reach agreement; Kenya’s central bank takes first step toward removing licensing moratorium
The winners of the 2017 Central Banking Awards
Bank of England wins Central Bank of the Year, while Carlos Fernández Valdovinos picks up Governor of the Year; Donald Kohn receives Lifetime Achievement Award; 15 more awards unveiled
‘Old Lady of Threadneedle Street’ crowned Central Bank of the Year
Despite criticism around Brexit, the Bank of England came out on top in 2016, helping to calm markets in a turbulent year; African central banks scoop awards for website and risk manager
Website of the year: Central Bank of Kenya
The East African central bank has embraced responsive design to cater for an increasingly mobile audience, eclipsing the websites of many peers
Kenya’s monetary policy framework under threat – IMF
New interest rate caps are “constraining” the central bank’s ability to conduct monetary policy while negatively affecting banks’ profitability, but action plan could see them eliminated
Central Bank of Kenya halts reference rate calculation
Rate made redundant by interest cap, Njoroge explains, as banks prepare for the new arrangement; central bank maintains interest rates at 10%
Impact of interest rate cap still unclear – Kenyan governor
There is not enough data on interest caps to influence the MPC’s decision, says Njoroge; interest rates remain on hold at 10%
Kenya’s Imperial Bank saga continues with fresh court ruling
Sniping ensues as high court rules on Imperial Bank; central bank says it has acted within the law, while shareholders challenge its interpretation of the ruling
People: Sarb reappoints deputy for second term; Central Bank of Kenya looking to replace board
South African Reserve Bank appoints Francois Groepe to serve another term; parliament has approved five new members to the Central Bank of Kenya board, but formal process not yet complete; and more
Bank of Uganda takes control of large commercial bank
Ugandan central bank takes over the management of Crane Bank, the commercial bank; clarification issued over use of governor’s signature
Central Bank of Kenya cuts rates despite new credit legislation
Commercial banks to amend lending rates again following a cut in interest rates; bank launches 50th birthday initiatives including new website
IMF official criticises interest rate caps in speech honouring Kenyan central bank
Interest rate ceilings can interfere with central bank independence and restrict credit access, IMF deputy managing director tells Kenyan officials
Kenyan parliament amends central bank’s regulation powers
Bill requires central bank to take decisions to place commercial banks into receivership “in consultation” with a senior bureaucrat at the country’s finance ministry
Capping interest rates could affect credit, says Kenyan president
Kenyan President approves new banking law despite acknowledging future “difficulties”; government to monitor possible emergence of “unregulated” and “informal” lending mechanisms