Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
New CBK rules tighten leash on forex bureaus
The Central Bank has tightened its monitoring of foreign currency inflows by introducing new rules to ensure transparency and weed out rogue operators. Photo/LIZ MUTHONI
The banking sector regulator has moved to streamline its monitoring of foreign currency inflows by introducing new regulations to increase transparency and weed out rogue operators from the sector.
Owners of foreign exchange bureaus will be required to double their core capital to Sh5.1 million from Sh2.5 million ($60,000 from $30,000) in new regulatory guidelines effective next month.
