Central Bank of Kenya
| Headquarters | Nairobi , Kenya |
| founding | 1966 |
| president | Patrick Ngugi Njoroge (Governor of the bank since 2015) |
| country | Kenya |
| currency | |
| ISO 4217 | KES |
| Currency reserves | US $ 13.081 billion (November 2019) |
| Website | |
| List of central banks | |
The Central Bank of Kenya (CBK) ( Swahili : Banki Kuu ya Kenya ) is the central bank of Kenya , based in Nairobi . The bank was founded in 1966 after the East African Currency Board (EACB) was dissolved. The mandate of the bank is to formulate and implement a monetary policy that promotes price stability, ensures the liquidity, solvency and stability of the banking sector, issues banknotes and coins and provides legal banking services for the government, commercial banks and other financial institutions.
history
The Central Bank of Kenya was established by a law passed by Parliament on March 24, 1966, and began operating on September 14, 1966. Before that, the East African Currency Board (EACB) had taken over the functions of the central bank for the three years after Kenya's independence.
management
The management of the bank consists of the governor, the deputy governors and the heads of departments of the bank. The governor assumes the role of chief executive officer of the bank and is therefore responsible for its overall management. The governor is also the bank's official spokesman.
The following have been appointed governors since the bank was founded:
- Leon Baranski, 1966-1967
- Duncan Ndegwa, 1967-1982
- Philip Ndegwa, 1982-1988
- Eric Cheruiyot, 1988-1983
- Micah Cheserem, 1993-2001
- Nahashon Nyagah, 2001-2003
- Andrew Mullei, 2004-2007
- Njuguna Ndung'u, 2007-2015
- Patrick Ngugi Njoroge, since 2015
Individual evidence
- ↑ Kenya Foreign Exchange Reserves . tradingeconomics.com. Accessed November 24, 2019
- ↑ Central Bank of Kenya: Bank History | www.centralbank.go.ke. Retrieved December 14, 2019 .