CBK, also known as Central Bank of Kenya, is the primary financial institution responsible for the formulation and implementation of monetary policy in Kenya. The CBK plays a crucial role in maintaining stability and promoting economic growth in the country.
As the central bank, CBK has several key functions. One of its primary responsibilities is to regulate and supervise the banking sector, ensuring that it operates in a safe and sound manner. CBK sets and enforces various prudential regulations aimed at maintaining the stability and integrity of the financial system.
CBK is also responsible for issuing and managing the Kenyan currency, overseeing the minting and distribution of banknotes and coins. It plays a vital role in maintaining the stability of the national currency by managing money supply and implementing exchange rate policies.
Furthermore, CBK acts as the banker and fiscal agent to the government, handling the management of public debt, government securities, and providing banking services to various government agencies. It plays a crucial role in the management of public finances, ensuring effective utilization of funds and fiscal discipline.
Overall, CBK is a key institution in Kenya's financial system, responsible for maintaining stability, controlling inflation, promoting economic growth, and safeguarding the financial interests of the country. Its policies and actions have a substantial impact on the overall economic health and welfare of Kenya and its citizens.
