Central Bank of Kenya and the Bank of Mauritius have signed a memorandum of understanding

Central Bank of Kenya and the Bank of Mauritius have signed a memorandum of understanding, which seeks to foster cross border supervision and information sharing.

The move sets forth a statement of intent between the two central banks to establish a framework for mutual assistance, cooperation and the exchange of information in the fulfilment of the institutions’ respective supervisory information.

CBK’s Governor Prof Njuguna Ndung’u said the signing of the agreement marked a culmination of a process of establishing formal cooperation between CBK and the Bank of Mauritius, which started in 2009.

"The MoU is premised on the need to enhance co-operation in the sharing of supervisory information between our two institutions," Ndung’u said, adding: "It will help define and guide our working relationships in addition to enabling the smooth exchange of supervisory information."

By www.standardmedia.co.ke