Central Bank of Kenya (CBK)

The Central Bank of Kenya CBK is a government agency established in 1966 under the Central Bank of Kenya Act to implement monetary policy and maintain financial stabil...

Organization Profile

Institutional nature
The Central Bank of Kenya CBK is a government agency established under the Central Bank of Kenya Act.
Institutional History
Kenya CBK was established in 1966.
Institutional Functions
1) Formulate monetary policy: collect and analyze financial data, study macro- and micro-economic activities, and formulate monetary policy to maintain overall price stability;
2) Maintain the stability of financial markets: promote the liquidity of financial markets, manage credit growth, and manage foreign exchange reserves;
3) Formulate and implement foreign exchange monetary policy;
4) Supervising banks and financial institutions: providing legal and regulatory frameworks and issuing prudential guidelines;
5) Ensure the safe and effective operation of payment and settlement systems;
6) Provide banking services;
7) Provide currency services.

Licence application

1. Types of Registered Capital License Minimum Registered Capital (Kenyan Shilling) Bank / Mortgage Loan Financing Institution 1 billion Money Changer 6.51 million
Note: 10,000 Kenyan shillings are about 630 yuan.
2. Documents to be submitted
Download license application form: Documents to be submitted for license type Bank/Mortgage Loan Financing Institution/Non-Banking Financial Institution
1) A certified copy of the organization registration certificate;
2) A certified copy of the institution's articles of association and memorandum;
3) A certified copy of the memorandum and articles of association of the body corporate that intends to hold substantial shares of the institution;
4) Certified copies of audit reports for the last three years prior to the application: the applicant has conducted business in any industry under any name, or any shareholder is a body corporate;
5) The financial audit report of the shareholder in the last three years: the major shareholder is a natural person;
6) Feasibility study report, business operation and development plan for at least three years:
i) Detailed diagram of the organization: individual and institutional share details, ultimate beneficial shareholders;
ii) Organizational structure: board of directors, chief executive officer, executive directors, senior management and functional departments;
iii) The latest detailed CVs of beneficial shareholders, directors and senior managers involved in the formulation of the policy, together with copies of supporting documents: degree and professional certificates; employer or business partner);
iv) Schedule of upfront expenses, including organization fees, share sale and brokerage fees and commissions;
ⅴ) Three-year financial forecast (balance sheet, income statement and cash flow statement);
ⅵ) Conduct an interest rate sensitivity analysis on the submitted forecast results, or perform a similar analysis on the degree of change in the forecast results when the interest rate changes (the assumptions on which the forecast results and sensitivity analysis are based must be specified);
ⅶ) Details of operational arrangements, activities carried out in-house and outsourced activities, the rationale for outsourcing and appropriate risk mitigation measures should be provided;
viii) Statistical and other data on the area to be served, including the area's population, agricultural, commercial, industrial development plans and existing banking facilities.
7) Applicability form for shareholders, directors and key personnel. Money Changer
1) A certified copy of the applicant's financial status;
2) A certified copy of the Articles of Association and Memorandum of Association;
3) A certified copy of the company registration certificate;
4) Feasibility study report, including three-year financial forecast (balance sheet, profit and loss statement and cash flow statement), organizational structure, company address and postal address;
5) Credentials that the minimum registered capital meets the requirements;
6) Bank statements for the six months prior to the application by shareholders and directors;
7) Applicability forms for shareholders, directors and key personnel;
8) Credit reports provided by the Credit Reference Bureau for shareholders, directors and key officers;
9) The company is required to state that none of its directors and/or shareholders has been declared bankrupt, participated in the management of the failed company, and has not been convicted by any competent court in Kenya or elsewhere for fraud, money laundering, tax evasion or any other dishonest conduct ;
10) The company needs to declare that directors and/or shareholders do not hold similar positions in other money changers;
11) The company undertakes to abide by the Kenya Central Bank Act, Kenya Regulations, Kenya Money Changer Guidelines and the instructions and regulations for the establishment and operation of money changers issued by the Central Bank of Kenya at any time;
12) Any other information required by the Central Bank of Kenya.

License Fee

License Type Application Fee (Kenyan Shilling) Commercial Banks 5000 Money Changers 20000 Existing Money Changer Branches 10000 Credit Bureaus 10000 Microfinance Banks 5000 Foreign Banks Opening Representative Offices in Kenya 5000 Remittance Operators/ Provider 20000
Note: 1000 Kenyan shillings are about 63 yuan.
For details, please visit:

License Type

License Type Business Authority Currency Dealer Bank
1) Buy, sell, borrow foreign currency or handle other foreign currency;
2) To provide payment services for Kenyan residents and non-residents;
3) Participate in spot currency market and derivative foreign exchange transactions. Money Changer
1) Buy and sell foreign currency cash;
2) Buy traveler's checks;
3) Personal check;
4) Bank draft and bank transfer;
5) Traveler's cheques can be sold after being approved by the Central Bank of Kenya;
6) Do not participate in derivative foreign exchange transactions.
For details, please visit:

Regulatory Inquiries

1. Go to and select Regulations and Licensing under Invest
2. Select Licensed Institutions, select the company category to view the list, take Forex Bureaus and Money Remittance Providers as an example,
3. The list is as follows:

Related Links

Kenya Capital Markets Authority CMA:

Contact information

Address: Haile Selassie Avenue, P.O Box 60000 – 00200, Nairobi, Kenya
Tel: +254 20 286 1000, +254 20 286 3000, +254 709 081 000, +254 709 083 000
Fax: +254 20 286 0000
Email: [email protected]
Web consultation:

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