Regulatory Alerts2015-07-24 | 821938490Banking Circular No 6 of 2015 - Authorized Foreign Exchange Inter-Dealer Broker - Micromega Africa Money Brokers
The Central Bank of Kenya has authorized Micromega Africa Money Brokers as an inter-dealer broker in the domestic foreign exchange market, allowing commercial banks to utilize their services. The Central Bank will continue to monitor the forex market and provide updates as necessary. This information is communicated to all chief executives of commercial banks and the authorized foreign exchange inter-dealer broker, Micromega Africa Money Brokers.
BANKING CIRCULAR NO. 6 OF TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS AUTHORIZED FOREIGN EXCHANGE INTER-DEALER BROKER - MICROMEGA AFRICA MONEY BROKERS Further to circular no. 4 of 2015, we hereby inform you that the Central Bank of Kenya has authorized Micromega Africa Money Brokers (MAMB) as an inter-dealer broker in the domestic foreign exchange market. Commercial banks may therefore utilize the services of MAMB.
The Central Bank continues to monitor developments in the forex market and will issue further updates/guidelines when appropriate.
John K Birech Asst. Director, Financial Markets 15 June 2015