Regulatory Alerts2015-07-24
Banking Circular No 6 of 2015 - Authorized Foreign Exchange Inter-Dealer Broker - Micromega Africa Money Brokers
Circular No. 6 of 2015 from the Central Bank of Kenya informs all chief executives of commercial banks that Micromega Africa Money Brokers (MAMB) has been authorized as an inter-dealer broker in the domestic foreign exchange market. This authorization allows commercial banks to utilize their services, and the bank will continue monitoring forex market developments while issuing further updates/guidelines when necessary.
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