Kenya Strengthens Central Bank & Modernizes Monetary Policy: Presidency
Kenya Strengthens Central Bank & Modernizes Monetary Policy: Presidency
The Central Bank of Kenya (Amendment) Bill 2026 "improves Kenya's preparedness to respond to financial crises while protecting taxpayers and the banking sector," according to President William Ruto.
Key reforms under the bill:
🟠A distinct legal framework separates ordinary liquidity management from extraordinary interventions during periods of financial distress.
🟠Financial system stability and sound banking regulation are recognized as secondary objectives, while price stability remains the primary mandate.
🟠Deputy Governor positions are to be vetted and approved by the National Assembly before appointment.
🟠A legal framework is provided for collaboration with national, regional, and international institutions to enhance cross-border cooperation.
🟠The bank's authority to deal in gold and other precious metals is expanded to support Kenya's mining sector.
Under the updated Parliamentary Pensions Act, "child" is redefined to mean a person below 18 years, up from 16 years, according to the president's statement.
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