Regulatory Alerts2015-07-24
Banking Circular No 3 of 2015 - Foreign Exchange Dealing with Unauthorized Dealers-Brokers
The Central Bank of Kenya has authorized ICAP Voice Brokers to operate in the Kenyan foreign exchange market, and commercial banks may use their services. The bank is currently engaging with other potential service providers and will update the market once they are approved for operation. This announcement was made by Gerald A. Nyaoma, Director of Financial Markets, on May 28th, 2015.
BANKI CENTRAL BANK OF KUU YA KENYA KENYA Haile Selassie Avenue P. O. Box 60000 - 00200 Nairobi, Kenya Telephone: 2860000, Fax: 340192 BANKING CIRCULAR NO 4 OF 2015 TO: ALL CHIEF EXECUTIVES OF COMMERCIAL BANKS AUTHORISED FOREIGN EXCHANGE DEALERS /BROKERS This is to inform you that the Central Bank of Kenya has authorized ICAP Voice Brokers to operate in the Kenya foreign exchange market and commercial banks may therefore use the services of ICAP.
In the meantime, the Central Bank of Kenya continues to engage other Voice Broking Service Providers and will inform the market once they are approved to operate.
GERALD A. NYAOMA DIRECTOR, FINANCIAL MARKETS 28 May 2015