The Central Bank Of Kenya, (English: Central Bank Of Kenya, Referred To As CBK) Was Established In 1966. It Is The Central Bank Of Kenya, Headquartered In The Capital Nairobi. The Current President Is Njuguna Ndongu, Who Took Office On March 4, 2007.
History
Kenya Was A British Colony In East Africa In The Late 19th Century, Called British East Africa. After World War I, The United Kingdom Took Over Part Of The German Colonies And Expanded Its Sphere Of Influence To Include A Territory In Present-day Uganda, Tanzania And Other Countries. Therefore, It Began To Establish The East African Currency Board (EACB), Which Is Mainly Responsible For Issuing Local Currencies At A Fixed Exchange Rate With The British Pound. Later, In The Mid-1960s, As Britain Gradually Withdrew From Africa, The Colonies Began To Divide And Become Independent. After Independence, The Three Countries In East Africa Began To Hope That They Could Manage Their Own Monetary And Financial Policies Independently, So The Operation Mechanism Of The East African Currency Board Began To Collapse. In 1966, The Kenyan Parliament Passed The Central Bank Of Kenya Act Of 1966, And The Central Bank Of Kenya Was Officially Established, And Began To Act As The Central Bank Of Kenya To Handle The Country's Monetary And Financial Policies Independently.
Organizational Structure
The Administrative Team Of The Central Bank Of Kenya Consists Of A Governor, Two Deputy Governors, And Several Department Ministers. The Governor Is The Chief Executive Officer Of The Central Bank, And The Governor And Deputy Governors Are Selected And Nominated By The President Through A Transparent And Competitive Mechanism, And Are Appointed After Approval By The Parliament. Each Term Of Office Is Four Years, And They Are Eligible For One Re-election. The Following Departments Are Responsible For The Specific Division Of Administrative Management And Execution:
Previous Governors
Vice Governors Of The Board Of Directors EACB
