Central Bank of Kenya
Encyclopedia
The Central Bank of Kenya is Kenya's
central bank
. The bank is located in Nairobi
. The current governor of the bank is Professor Njuguna Ndungu whose appointment took effect from March 4, 2007. Prof Ndung'u is an Associate Professor of Economics at the University of Nairobi
and holds a PhD in economics
from the University of Gothenburg, Sweden
, and master's and bachelor's degrees in economics from the University of Nairobi.
The bank's name is abbreviated to "CBK".
Central Bank of Kenya was founded in 1966 after the dissolution of East Africa Currency Board (EACB).
Kenya
Kenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east...
central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
. The bank is located in Nairobi
Nairobi
Nairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
. The current governor of the bank is Professor Njuguna Ndungu whose appointment took effect from March 4, 2007. Prof Ndung'u is an Associate Professor of Economics at the University of Nairobi
University of Nairobi
The University of Nairobi is the largest university in Kenya. Although its history as an educational institution goes back to 1956, it did not become an independent university until 1970 when the University of East Africa was split into three independent universities: Makerere University in...
and holds a PhD in economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the University of Gothenburg, Sweden
Sweden
Sweden , officially the Kingdom of Sweden , is a Nordic country on the Scandinavian Peninsula in Northern Europe. Sweden borders with Norway and Finland and is connected to Denmark by a bridge-tunnel across the Öresund....
, and master's and bachelor's degrees in economics from the University of Nairobi.
The bank's name is abbreviated to "CBK".
Central Bank of Kenya was founded in 1966 after the dissolution of East Africa Currency Board (EACB).
See also
- Central banks and currencies of AfricaCentral banks and currencies of AfricaThere are two African currency unions associated with multinational central banks; the West African Banque Centrale des Etats de l'Afrique de l'Ouest and the Central African Banque des Etats de l'Afrique Centrale...
- Economy of KenyaEconomy of KenyaKenya's economy is market-based, with a few state-owned infrastructure enterprises, and maintains a liberalized external trade system. The country is generally perceived as Eastern and central Africa's hub for Financial, Communication and Transportation services...
- List of central banks
- Kenyan shillingKenyan shillingThe shilling is the currency of Kenya. It is divisible into 100 cents.-Coins:The first coins were issued in 1966 in denominations of 5, 10, 25 and 50 cents, and 1 and 2 shillings. Twenty-five cents coins were not minted after 1969; 2 shillings coins were last minted in 1971...