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Central Bank of Kenya

October 21, 2023

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.

Central Bank of Kenya
Banki Kuu ya Kenya



CBK's head office in Nairobi
Coordinates1°17′24″S 36°49′30″E / 1.28988°S 36.824922°E / -1.28988; 36.824922
Established24 March 1966 (1966-03-24) (legal)
14 September 1966 (public operation)
Ownership100% state ownership[1]
GovernorKamau Thugge
Central bank ofKenya
CurrencyKenyan shilling
KES (ISO 4217)
ReservesUS$7.510 million[1]
Preceded byEast African Currency Board
Websitewww.centralbank.go.ke

Organizational structure Edit

Management Edit

The bank’s executive management team comprises the governor, deputy governors and heads of departments. The governor assumes the role of Chief Executive Officer of the bank and is therefore responsible for its overall management. The governor is also the bank’s official spokesperson.

Governor Edit

The current governor of the bank is Dr. Kamau Thugge.[2] Former governors of the bank are:[3]

Deputy governor Edit

The current deputy governor is Dr. Susan Koech. Former deputy governors include:

  • Sheila M'Mbijjewe (2015-2023)
  • Dr. Haron Sirima (2011–2015)
  • Dr. Hezron Nyangito (2008–2011)
  • Jacinta Wanjala Mwatela (2004–2008), acting Governor 2006–2007[4]
  • Edward C. Sambili (2001–2004)[5]
  • Thomas Nzioki Kibua (1993–2001)[6]
  • Wanjohi Muriithi (1991–1993)[7]
  • Eliphaz Riungu (1988–1991)
  • Eric Cheruiyot Kotut (1984–1988)[8]
  • Ahmed Abdallah (1967–1984) [9][10]

Members of the board Edit

The current board of directors is as follows:[11]

  • Mohammed Nyaoga – Chairman of the Board
  • Principal Secretary to the National Treasury
  • Dr. Kamau Thugge, CBS – Governor
  • Nelius Kariuki – member
  • Rachel Dzombo – member
  • Ravi Ruparel – member
  • Samson Cherutich – member

Departments Edit

  • Governor's Office
  • Bank Supervision
  • Banking and Payment Services
  • Financial Markets
  • Research
  • Currency Operations
  • Branch Administration
  • Strategic Management
  • Information Technology
  • Finance
  • General Services
  • Internal Audit and Risk
  • Human Resources
  • Kenya School of Monetary Studies

History and powers Edit

Amid the COVID-19 pandemic, the CBK instituted a loan restructuring program to help financially distressed borrowers. The restructuring program was in place from March 2020 to March 2021.[12]

In 2021, legislation passed the National Assembly that allows the CBK to cap interest rates and to revoke the licenses of digital lenders that breach the Data Protection Act or the Consumer Protection Act.[13]

See also Edit

References Edit

  1. ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ "Kamau Thugge takes over as Central Bank Governor". Nation. 2023-06-19. Retrieved 2023-06-22.
  3. ^ . Archived from the original on 2013-01-17. Retrieved 2013-01-01.
  4. ^ Kenya Gazette. 27 May 2005. p. 1162. Retrieved 1 January 2013.
  5. ^ Kenya Gazette. 17 August 2001. p. 1832. Retrieved 1 January 2013.
  6. ^ Kenya Gazette. 4 July 1997. p. 1184. Retrieved 1 January 2013.
  7. ^ Kenya Gazette. 10 January 1992. p. 22. Retrieved 1 January 2013.
  8. ^ Kenya Gazette. 26 October 1986. p. 1398. Retrieved 1 January 2013.
  9. ^ Kenya Gazette. 7 January 1983. p. 2. Retrieved 1 January 2013.
  10. ^ Kenya Gazette. 16 October 1984. p. 1482. Retrieved 1 January 2013.
  11. ^ . Archived from the original on 2013-01-16. Retrieved 2013-01-01.
  12. ^ "Kenyan central bank says loans relief period ended on March 2". Reuters. 2021-03-23. Retrieved 2021-10-27.
  13. ^ "Kenya cracks down on digital lenders over data privacy issues". TechCrunch. 25 October 2021. Retrieved 2021-10-27.

[1]

External links Edit

  • Official website  
  1. ^ Nyagaka, Vincent. "Central Bank of Kenya (CBK)". Benstride. Retrieved 2021-02-01.

October 21, 2023
central, bank, kenya, swahili, banki, kenya, monetary, authority, kenya, head, office, located, nairobi, founded, 1966, after, dissolution, east, african, currency, board, eacb, kamau, thugge, current, governor, susan, koech, deputy, governor, banki, kenyacbk,. 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 Central Bank of KenyaBanki Kuu ya KenyaCBK s head office in NairobiCoordinates1 17 24 S 36 49 30 E 1 28988 S 36 824922 E 1 28988 36 824922Established24 March 1966 1966 03 24 legal 14 September 1966 public operation Ownership100 state ownership 1 GovernorKamau ThuggeCentral bank ofKenyaCurrencyKenyan shillingKES ISO 4217 ReservesUS 7 510 million 1 Preceded byEast African Currency BoardWebsitewww wbr centralbank wbr go wbr ke Contents 1 Organizational structure 1 1 Management 1 2 Governor 1 3 Deputy governor 1 4 Members of the board 1 5 Departments 2 History and powers 3 See also 4 References 5 External linksOrganizational structure EditManagement Edit The bank s executive management team comprises the governor deputy governors and heads of departments The governor assumes the role of Chief Executive Officer of the bank and is therefore responsible for its overall management The governor is also the bank s official spokesperson Governor Edit The current governor of the bank is Dr Kamau Thugge 2 Former governors of the bank are 3 Kamau Thugge June 2023 to Date Patrick Njoroge June 2015 June 2023 Prof Njuguna Ndung u March 2007 March 2015 Dr Andrew Mullei March 2003 March 2007 Nahashon Nyagah April 2001 March 2003 Micah Cheserem July 1993 April 2001 Eric Cheruiyot Kotut January 1988 July 1993 Philip Ndegwa December 1982 January 1988 Duncan Ndegwa May 1967 December 1982 Dr Leon Baranski May 1966 May 1967 Deputy governor Edit The current deputy governor is Dr Susan Koech Former deputy governors include Sheila M Mbijjewe 2015 2023 Dr Haron Sirima 2011 2015 Dr Hezron Nyangito 2008 2011 Jacinta Wanjala Mwatela 2004 2008 acting Governor 2006 2007 4 Edward C Sambili 2001 2004 5 Thomas Nzioki Kibua 1993 2001 6 Wanjohi Muriithi 1991 1993 7 Eliphaz Riungu 1988 1991 Eric Cheruiyot Kotut 1984 1988 8 Ahmed Abdallah 1967 1984 9 10 Members of the board Edit The current board of directors is as follows 11 Mohammed Nyaoga Chairman of the Board Principal Secretary to the National Treasury Dr Kamau Thugge CBS Governor Nelius Kariuki member Rachel Dzombo member Ravi Ruparel member Samson Cherutich memberDepartments Edit Governor s Office Bank Supervision Banking and Payment Services Financial Markets Research Currency Operations Branch Administration Strategic Management Information Technology Finance General Services Internal Audit and Risk Human Resources Kenya School of Monetary StudiesHistory and powers EditAmid the COVID 19 pandemic the CBK instituted a loan restructuring program to help financially distressed borrowers The restructuring program was in place from March 2020 to March 2021 12 In 2021 legislation passed the National Assembly that allows the CBK to cap interest rates and to revoke the licenses of digital lenders that breach the Data Protection Act or the Consumer Protection Act 13 See also Edit nbsp Banks portalList of central banks of Africa Economy of Kenya List of central banks Kenyan shillingReferences Edit a b Weidner Jan 2017 The Organisation and Structure of Central Banks PDF Katalog der Deutschen Nationalbibliothek Kamau Thugge takes over as Central Bank Governor Nation 2023 06 19 Retrieved 2023 06 22 Former Governors Archived from the original on 2013 01 17 Retrieved 2013 01 01 Kenya Gazette 27 May 2005 p 1162 Retrieved 1 January 2013 Kenya Gazette 17 August 2001 p 1832 Retrieved 1 January 2013 Kenya Gazette 4 July 1997 p 1184 Retrieved 1 January 2013 Kenya Gazette 10 January 1992 p 22 Retrieved 1 January 2013 Kenya Gazette 26 October 1986 p 1398 Retrieved 1 January 2013 Kenya Gazette 7 January 1983 p 2 Retrieved 1 January 2013 Kenya Gazette 16 October 1984 p 1482 Retrieved 1 January 2013 Board of Directors Archived from the original on 2013 01 16 Retrieved 2013 01 01 Kenyan central bank says loans relief period ended on March 2 Reuters 2021 03 23 Retrieved 2021 10 27 Kenya cracks down on digital lenders over data privacy issues TechCrunch 25 October 2021 Retrieved 2021 10 27 1 External links EditOfficial website nbsp Nyagaka Vincent Central Bank of Kenya CBK Benstride Retrieved 2021 02 01 Retrieved from https en wikipedia org w index php title Central Bank of Kenya amp oldid 1171478689, wikipedia, wiki, book, books, library,

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