Kenya: CBK Banking Circular No. 6 of 2022 on Resumption of charges for transfers between mobile money wallets and bank accounts

Progress

Current status

in force

01 Jan 2023 in force

05 Dec 2022 adopted

Scope

Implementers

Kenya

Policy Area

Consumer protection

Policy Instrument

Quality of Service requirement

Regulated Economic Activity

digital payment provider (incl. cryptocurrencies)

software provider: other software

Government Branch

executive

Government Body

central bank

Implementation Level

national

Timeline of events

01 Jan 2023

in force

Central Bank's Circular No. 6 on resumption of charges for transfers between mobile money wallets and bank accounts entered into force

On 1 January 2023, the Central Bank of Kenya (CBK)'s Banking Circular No. 6 of 2022 on the resumption of charges for transfers between mobile money wallets and bank accounts came into force. The purpose of the circular, which was issued on 5 Decembe…

Source

Event type order

Action type implementation

Government branch executive

Government body central bank

05 Dec 2022

adopted

Central Bank adopted Circular No. 6 on resumption of charges for transfers between mobile money wallets and bank accounts

On 5 December 2022, the Central Bank of Kenya (CBK) issued Banking Circular No. 6 of 2022 on the Resumption of charges for transfers between mobile money wallets and bank accounts, starting from 1 January 2023. The purpose of the circular is to advi…