Kenya Central Bank boss feted for cleaning up banking sector

MK254 · 2016-10-09T12:19:36+00:00

CBK governor Patrick Njoroge has been awarded for efforts to "curb" and "clean up" Kenya's banking sector. The Central Bank of Kenya boss was also honoured for pursuing a policy of openness and transparency. He received the Global Markets 'Central Bank Governor of the Year Award for Sub-saharan Africa' on the margins of the IMF/Word Bank meetings in Washington, DC on Saturday. The Governor was also praised for his admirable stewardship of the nation's financial sector and vocal support for innovation in the industry. Njoroge dedicated the award to staff members, noting they marked their 50th anniversary three weeks ago. “They are the greatest assets the bank has and are transforming it to a world-class modern central bank," he said. “I am deeply moved to be accorded this award, the second I have received in the 15 months I have been at the CBK." Read: Work with CBK to make credit affordable, Uhuru tells commercial banks Njoroge said he was happy that he and his staff embers' efforts in a difficult environment have been recognised. "I wish to thank all who made this possible, particularly, my deputy governor and fellow Governors of other banks for their support," he added. Njoroge was named the best governor in Africa during the 51st annual meeting of the African Development Bank in Lusaka, Zambia in May. He emerged top for his integrity and was praised for re-establishing order in Kenya's banking industry. The Central Bank boss who got into office last June, dedicated the award to the youth of Africa. Njoroge is known for wanting to change the law to have fraudulent bank managers jailed for not less than 20 years. He told the Committee on Finance, Planning and Trade in April that individuals who mismanaged Chase Bank and National Bank of Kenya will be prosecuted. The governor said then that his team was drafting changes to the Central Bank of Kenya Act to tame rogue banking institutions, as well as raise the bar on penalties to net criminals. More on this: CBK chief wants fraudulent bank bosses jailed for 20 years Njoroge was also key to the process of saving Case Bank which was placed under receivership in April after experiencing liquidity difficulties. Central Bank boss Patrick Njoroge feted for cleaning up banking sector

Thread starter MK254
Start date Oct 9, 2016

MK254

JamiiForums uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.

Accept Learn more…

Back

Top Bottom

Forums

New posts

Kenya Central Bank boss feted for cleaning up banking sector

MK254

JF-Expert Member

Our Community

Regional Communities