Kenya: Central Bank circular No. 1 of 2024 on migration of domestic high value payment system to ISO 20022 standards
Progress
Current status
in force
30 Sep 2024 in force
11 Sep 2024 adopted
Scope
Implementers
Kenya
Policy Area
Design and testing standards
Policy Instrument
Interoperability requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national
Timeline of events
Central Bank's circular No. 1 of 2024 on migration of domestic high value payment system to ISO 20022 standards entered into force
On 30 September 2024, the Central Bank's (CBK) Microfinance Banks circular No. 1 of 2024 on the Migration of domestic high-value payment systems to ISO 20022 standards, requiring operational readiness for the new standards entered into force. The mi…
Event type
order
Action type
implementation
Government branch
executive
Government body
central bank
Central Bank adopted circular No. 1 of 2024 on migration of domestic high value payment system to ISO 20022 standards
On 11 September 2024, the Central Bank of Kenya (CBK) issued Microfinance Banks circular No. 1 of 2024 on the Migration of domestic high-value payment systems to ISO 20022 standards, requiring operational readiness for the new standards. The migrati…
Event type
order
Action type
adoption
Government branch
executive
Government body
central bank