NAIROBI, Kenya, Mar 19 – The Central Bank of Kenya’s (CBK’s) DhowCSD, a mobile bond trading platform, has been selected as the recipient of the Central Banking’s (CB’s) Payments and Market Infrastructure Initiative Award.
CB is a london-based organization that recognizes outstanding performance and achievements of individuals and organisations within the central banking community with annual awards.
It recognized the critical role DhowCSD played in improving the financial market infrastructure in Kenya.
“The Central Bank of Kenya (CBK) is honored to receive Central Banking’s Payments and Market Infrastructure Initiative Award for the implementation of the DhowCSD,” CBK governor Kamau Thugge said.
“This achievement marks the culmination of a significant journey that the CBK has undertaken in developing a new, agile, and transformative financial market infrastructure,” he added.
“The DhowCSD serves to facilitate the trading of Kenya Government securities locally and across the border while facilitating the integration of Kenya with international financial markets.”
He noted that since the inception of DhowCSD, it has allowed ordinary investors to open and operate CSD accounts from anywhere, thereby revolutionizing the government securities market.
Dhow was launched by President William Ruto in September last year, which, he said, solidified the government’s strategy to remove trade restrictions and provide millions of ordinary Kenyans with a unique window of opportunity to engage in and significantly contribute to nation-building.
“The electronic infrastructure will deepen the domestic capital market, promote savings and investments besides fostering the growth and stability of our financial markets,” said the head of state.
