What is the central bank of Kenya, established in 1966 after the East African Currency Board era?

The Central Bank of Kenya is Kenya’s central bank, established in 1966 after the East African Currency Board era.

Kenya established the institution through the Central Bank of Kenya Act of 1966. It replaced the monetary arrangements associated with the East African Currency Board, which had served several territories before their independent national systems developed.

The Central Bank of Kenya issues Kenya’s currency, the Kenyan shilling, conducts monetary policy, manages foreign-exchange reserves, and supports financial stability. Its headquarters are in Nairobi.

The institution is separate from the Kenya Bankers Association and from commercial banks. The currency transition also matters historically: the Kenyan shilling became the country’s national currency after the regional currency arrangements were dismantled.