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CBK Launches Mobile-based Platform For T-bills, T-bonds
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Francis Muli3 days ago1.1kViews
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The Central Bank of Kenya has launched a mobile-based platform for trading Treasury bills (T-bills) and T-bonds.
The platform will target the mass market who trade amounts below Ksh140,000 in a day, which is the maximum amount transacted on mobile money.
“The Bank (CBK) is pleased to inform you about the roll-out of the Treasury Mobile Direct (TMD) services, designed to facilitate investment in Government Securities using the mobile telephone. To access these services, investors will be required to register for this facility at the nearest Central Bank of Kenya (CBK) Branch or Currency Centre,” CBK said in a notice to investors.
Currently, investors apply to trade T-bills and bonds through physical forms at CBK branches and currency centres or contact banks who charge a commission of 0.15 percent of the amount traded.
Also, investors rely on CBK’s website and newspaper advertisements for announcements of new T-bill and bond auctions.
Read: Treasury Nets Ksh78 Billion ‘Surplus’ Cash From Parastatals
Business Daily reports that the mobile service will now aggregate all these services and others including request of statements and receipt of the cash value of maturing securities.
“For transactions whose amount exceeds Ksh140,000 or other prevailing transaction limit, CBK will at its sole discretion determine the best alternative means of disbursing or receiving the funds,” added CBK.
As of January 31, 2020, retail investors and nonbank participants had bought a cumulative Ksh125 billion worth of treasuries.
by
Francis Muli3 days ago1.1kViews
Courtesy
ShareTweetPinterestGoogle
The Central Bank of Kenya has launched a mobile-based platform for trading Treasury bills (T-bills) and T-bonds.
The platform will target the mass market who trade amounts below Ksh140,000 in a day, which is the maximum amount transacted on mobile money.
“The Bank (CBK) is pleased to inform you about the roll-out of the Treasury Mobile Direct (TMD) services, designed to facilitate investment in Government Securities using the mobile telephone. To access these services, investors will be required to register for this facility at the nearest Central Bank of Kenya (CBK) Branch or Currency Centre,” CBK said in a notice to investors.
Currently, investors apply to trade T-bills and bonds through physical forms at CBK branches and currency centres or contact banks who charge a commission of 0.15 percent of the amount traded.
Also, investors rely on CBK’s website and newspaper advertisements for announcements of new T-bill and bond auctions.
Read: Treasury Nets Ksh78 Billion ‘Surplus’ Cash From Parastatals
Business Daily reports that the mobile service will now aggregate all these services and others including request of statements and receipt of the cash value of maturing securities.
“For transactions whose amount exceeds Ksh140,000 or other prevailing transaction limit, CBK will at its sole discretion determine the best alternative means of disbursing or receiving the funds,” added CBK.
As of January 31, 2020, retail investors and nonbank participants had bought a cumulative Ksh125 billion worth of treasuries.
