Regulatory Alerts2015-07-24
Banking Circular No 6 of 2015 - Authorized Foreign Exchange Inter-Dealer Broker - Micromega Africa Money Brokers
In reference to Circular No. 4 of 2015, we would like to 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. Therefore, commercial banks are now able to utilize MAMB's services. As the Central Bank continues monitoring forex market developments, further updates and guidelines will be issued when appropriate. John K Birech, Assistant Director of Financial Markets (15 June 2015).
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