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Tag: Central Bank of Kenya (CBK)
Dr Thugge is currently the senior adviser and Head of Fiscal Affairs and Budget Policy at State House. He was previously Principal Secretary at the National Treasury in former President Uhuru Kenyatta's administration, but was forced out amid graft investigations involving former Cabinet Secretary Henry Rotich and the multi-billion shilling Kimwarer and Arror dam projects in Elgeyo Marakwet. Thugge was cleared of any wrongdoing in 2021.
Bank customers are expected to access faster clearing services for cheques, direct debits and electronic funds transfers (EFTs) following an upgrade of the Automated Clearing House (ACH) to the ISO 20022 standard. The ACH is established to facilitate the transfer of payments. Announcing the system upgrade...
The latest update by CBK comes against the backdrop of frustration from digital lenders who are yet to receive their licenses, and face potential removal of their apps from Google Play Store. In November 2022, Google announced that it would require loan apps to submit proof of licensing in Kenya to host them on its app store, with effect from January 31, 2023.
"I am very happy that between four to five million Kenyans will be out of CRB blacklist by the beginning of November," President William Ruto had promised at a forum with bank and mobile money executives in September.
The CBK also asserted that its foreign exchange cover remained adequate, in compliance with the CBK Act, EAC Monetary Union Protocol and targets of the IMF-supported economic program.
The Central Bank of Kenya (CBK) has announced that on September 12, 2022, it transferred to the Government Consolidated Fund Ksh4 billion as distribution from CBK’s General Reserve Fund (GRF) as at end FY2021/22. Concurrently, CBK increased its paid-up capital from Ksh35 billion to Ksh38...