Category: CBK
-
Ruto picks CBK insider as second deputy governor
•
Gerald Nyoma, the current head of banking supervision at the Central Bank of Kenya, has been appointed to serve as the second deputy governor of the apex bank in a move to comply with legal requirements. President William Ruto’s appointment extends Mr Nyoma’s tenure at the Central Bank of Kuwait…
-
How banks are taking CBK loans to invest in Treasury bills
•
Commercial banks borrowed from the Central Bank of Kenya’s emergency discount window to finance purchases of government securities as they saw a profit opportunity from the lower interest rate on the facilities compared to treasury bonds. The discount window was supposed to be used to provide temporary liquidity to banks…
-
Banks, stock brokers hits as CBK stops commission on bonds trade
•
Kenya’s central bank will stop paying commission to stockbrokers, custodian banks and authorised securities dealers that help it sell treasury bonds from next month, cutting off hundreds of millions of shillings in revenue each year. The central bank paid selling agents – who act as intermediaries between the central bank…
-
Why credit-only microfinanciers are seeking CBK digital licences
•
Non-deposit-taking microfinance banks are forced to apply for digital credit licenses to continue issuing loans in the absence of independent regulation of lending businesses as stipulated in the law. The Central Bank of Kenya has now moved to enforce this requirement amid protests from credit-only microfinance institutions (also known as…
-
Banks tap Sh4trn in CBK support on cash crunch
•
Commercial banks have increased their reliance on the Central Bank of Kenya for liquidity support this year as the sector pays the price of low government payments and high interest rates that have made it costly to mobilize deposits from customers. Lenders have withdrawn a cumulative Sh4 trillion from the…
-
Banks tap Sh4trn in CBK support on cash crunch
•
Commercial banks have increased their reliance on the Central Bank of Kenya for liquidity support this year as the sector pays the price of low government payments and high interest rates that have made it costly to mobilize deposits from customers. Lenders have withdrawn a cumulative Sh4 trillion from the…
-
Reprieve for borrowers as CBK lowers key rate for the first time in 4 years
•
For the first time in four years, Kenya’s central bank has cut its lending rate, giving borrowers relief from loan servicing costs after years of rising rates in a bid to contain inflation and a weak shilling. China’s central bank on Tuesday cut its key interest rate by 25 basis…
-
CBK fines 12 banks for breach of lending, investment rules
•
Kenya’s central bank fined 12 commercial banks last year for breaching rules on lending, capital adequacy and investment, new disclosures show. While the Central Bank did not disclose the affected institutions and the size of the fines, it said that “the Central Bank took appropriate corrective measures regarding the concerned…
-
CBK bags Sh12bn interest from loans to Treasury
•
The Central Bank of Kenya (CBK) will receive a total benefit of Sh12.62 billion from emergency lending to the National Treasury in the financial year ending June 30, 2024, more than double original estimates after the policy rate hiked over the past 12 months. A report on Consolidated Fund Services…
-
CBK approves LemFi, Flex Money Transfer partnership
•
RightCard Payment Services Limited, operating under the name LemFi, is pleased to announce that it has received additional approval from the Central Bank of Kenya (“CBK”) to operate remittances to Kenya. This development also demonstrates RightCard’s commitment to providing safe and efficient services by partnering with trusted local partners while…