The Central Bank of Kenya (CBK) has reported KSh6.2 billion (US$71 million) is transacted every day via mobile money, up from a daily average of KSh5.2 billion (US$59 million) last year. The Business Daily reports CBK data revealed that KSh543 billion (US$6.2 billion) changed hands in 206 million transactions conducted through mobile phones in the
The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorized international remittance service providers in Kenya. The results for May were as follows. Remittances to Kenya increased by 8.6 percent, to USD 119.7 million in May 2014 compared to USD 110.1
The Central Bank of Kenya (CBK) has granted authority to Rabobank Nederland to open a Representative Office in Kenya. The authority was granted pursuant to Section 43 of the Banking Act. Rabobank Nederland is a cooperative bank owned by local cooperatives in Netherlands. Apart from offering financial services to its member cooperatives, Rabobank Nederland, which
Remittances to Kenya have increased 16 per cent over the past year, according to the Central Bank of Kenya (CBK), boosted by the growth in remittances through the likes of Western Union and M-Pesa. The bank said the country has received nearly US$120 million from Kenyan diaspora, up US$17 million from last year. “Remittance inflows
The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorized international remittances service providers in Kenya. In February 2014, remittances to Kenya increased by 8 percent from USD 102.4 million in February 2013 to USD 110.42 million. The 12 month cumulative
Sybrin has partnered with the Kenya Bankers Association (KBA) and the Central Bank of Kenya (CBK) for paperless IT solutions designed to lead to efficient operations, lower costs, improved compliance and better knowledge management. Speaking during a one-day conference for its customers in Nairobi, Daniel Parreira, sales director of Sybrin Systems Africa, said the paperless
The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorised international remittances service providers in Kenya. A remittance is money sent by a person in a foreign land to his or her home country. Due to the huge sums involved, remittances
The Central Bank of Kenya conducts a survey on remittance inflows every month through the formal channels that include commercial banks and other authorised international remittances service providers in Kenya. A remittance is money sent by a person in a foreign land to his or her home country. Due to the huge sums involved, remittances
The Central Bank of Kenya says that generally, the banking sector was sound and stable and recorded improved performance in 2012 as indicated by Total net assets which increased by 15.3 percent from Ksh. 2.02 trillion in December 2011 to Ksh. 2.33 trillion in December 2012, with the growth being supported by the increase in
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