2016-07-13 | 936014351

Banking Circular No 3 of 2011 - Implementation of East African Cross-Border Payment System

The Central Bank of Kenya, along with other East African banks, has been working to facilitate the clearing of cross-border payment instruments for efficient regional trade. They have adopted a multicurrency model connecting the Real Time Gross Settlement (RTGS) systems of the partner states, allowing the use of partner states' currencies without conversion within the system. Commercial banks, as participants in the East Africa Cross Border Payment System (EAPS), are required to execute and return the EAPS Participation Agreement to the Central Bank of Kenya.

Kenya

Central Bank of Kenya

Show thumbnail