[kictanet] Central Bank of Kenya digital currency

Mwendwa Kivuva Kivuva at transworldafrica.com
Thu Feb 10 17:12:43 EAT 2022

 The Central Bank of Kenya (CBK) announces the issuance of a Discussion
Paper on Central Bank Digital Currency for public comments. The Discussion
Paper examines the applicability of a potential Central Bank Digital
Currency (CBDC) in Kenya. It is part of CBK’s initiatives to ensure
informed policy decisions regarding innovations. The Discussion Paper
invites comments from the public to be considered when assessing the
potential use case for CBDC in Kenya.


Rapid technological innovations and developments are accelerating the pace
of digitalization. New digital payment methods have emerged to facilitate
transactions, including CBDC, issued by central banks to serve as money in
a digital form. Naturally, the balance of risks and benefits of CBDCs will
vary from one economy to another. CBK has been closely monitoring these
developments globally. Accordingly, CBK has prepared the Discussion Paper
that outlines the evolution of payments globally and in Kenya and discusses
recent digital payment methods including electronic money, CBDC, stable
coins and other cryptocurrencies. It outlines Kenya’s payment landscape and
assesses the potential applicability of CBDC. Further, it highlights the
potential opportunities and risks presented by CBDC.

To comprehensively evaluate the potential applicability of CBDC in Kenya,
CBK requests for public comments on a number of questions. The written
submissions or representations may be forwarded to the Director, Bank
Supervision, P.O. Box 60000- 00200, Nairobi; hand-delivered to the Central
Bank of Kenya Headquarters, Haile Selassie Avenue, Nairobi; emailed to
fin at centralbank.go.ke; or submitted here
be received not later than Friday, May 20, 2022 at 5.00 p.m.

Mwendwa Kivuva, Nairobi, Kenya
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